Fieldview Capital Management LLC Takes Position in PBF Energy Inc. $PBF

Fieldview Capital Management LLC acquired a new position in PBF Energy Inc. (NYSE:PBF) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,632 shares of the oil and gas company’s stock, valued at approximately $381,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after purchasing an additional 1,454,500 shares in the last quarter. Norges Bank purchased a new stake in shares of PBF Energy during the 2nd quarter worth about $24,599,000. BNP Paribas Financial Markets lifted its holdings in shares of PBF Energy by 276.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after buying an additional 755,310 shares during the last quarter. Aegis Financial Corp acquired a new stake in shares of PBF Energy during the 2nd quarter valued at about $13,445,000. Finally, JPMorgan Chase & Co. grew its stake in shares of PBF Energy by 133.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock valued at $22,420,000 after buying an additional 591,975 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 903,100 shares of PBF Energy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.62, for a total value of $38,490,122.00. Following the transaction, the insider owned 26,469,098 shares in the company, valued at $1,128,112,956.76. This trade represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas J. Nimbley sold 200,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the transaction, the director directly owned 790,716 shares of the company’s stock, valued at approximately $31,683,990.12. This represents a 20.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,212,979 shares of company stock worth $158,329,922 over the last quarter. 6.70% of the stock is currently owned by company insiders.

PBF Energy Stock Up 3.9%

Shares of PBF stock opened at $39.61 on Wednesday. The stock’s 50 day simple moving average is $33.96 and its 200 day simple moving average is $32.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $47.18. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of -26.95, a PEG ratio of 5.11 and a beta of 0.41.

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

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s dividend payout ratio is currently -74.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PBF. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price for the company. in a research note on Monday, December 8th. Piper Sandler boosted their target price on shares of PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. 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 investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $30.31.

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.