Counterpoint Mutual Funds LLC Makes New Investment in PBF Energy Inc. $PBF

Counterpoint Mutual Funds LLC purchased a new position in PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,649 shares of the oil and gas company’s stock, valued at approximately $502,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC raised its position in shares of PBF Energy by 3.0% in the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 276 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in PBF Energy by 2.5% in the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock worth $478,000 after buying an additional 348 shares during the last quarter. Arizona State Retirement System raised its holdings in PBF Energy by 1.4% in the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after buying an additional 353 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of PBF Energy by 11.6% during the third quarter. GAMMA Investing LLC now owns 5,041 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 525 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 480,000 shares of PBF Energy stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $35.07, for a total transaction of $16,833,600.00. Following the transaction, the insider directly owned 29,583,498 shares in the company, valued at approximately $1,037,493,274.86. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 2,385,879 shares of company stock valued at $82,719,180. 6.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BMO Capital Markets reiterated a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research note on Monday, January 5th. TD Cowen reaffirmed a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. UBS Group lifted their price objective on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Citigroup raised their price target on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $30.21.

PBF Energy Stock Up 2.2%

PBF stock opened at $35.07 on Wednesday. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -23.85, a P/E/G ratio of 4.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The business’s 50-day moving average is $31.29 and its two-hundred day moving average is $30.99. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $41.47.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.64. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.82) EPS. As a group, analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.