PBF Energy Inc. $PBF Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 54.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,222,433 shares of the oil and gas company’s stock after acquiring an additional 1,137,533 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.72% of PBF Energy worth $153,452,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PBF Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after purchasing an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock valued at $4,996,000 after buying an additional 12,289 shares in the last quarter. Acadian Asset Management LLC grew its position in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 2,354 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in PBF Energy by 204.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,733 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 2,507 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares of the company’s stock, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 3,541,570 shares of company stock worth $165,787,386. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PBF has been the topic of several research analyst reports. Freedom Capital upgraded PBF Energy to a “hold” rating in a research report on Tuesday, July 7th. Mizuho raised their target price on PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Evercore started coverage on shares of PBF Energy in a research report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target on the stock. Citigroup raised their price objective on shares of PBF Energy from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.62.

More PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF was added to multiple Zacks Rank #1 (Strong Buy) lists on July 24, including momentum, value, income, and general strong-buy screens, which can boost trader interest and signal improving analyst sentiment. Article Title
• Positive Sentiment: Several Zacks pieces highlighted PBF as a top-ranked growth, value, income, and momentum stock, reinforcing the idea that the name is screening well across multiple investment styles. Article Title
• Positive Sentiment: PBF was featured in a “Best Momentum Stocks” article and noted as being up strongly over the past week, suggesting short-term buying momentum remains intact. Article Title
• Neutral Sentiment: One article compared PBF’s year-to-date performance with peers like Phillips 66, which is mainly a relative-performance check and not a direct catalyst. Article Title
• Neutral Sentiment: Another note said PBF does not have the ideal setup for a likely earnings beat ahead of next week’s report, so investors may remain cautious until the company releases results. Article Title
• Negative Sentiment: Seeking Alpha published an earnings preview titled “Don’t Get Trapped At The Top”, which suggests some skepticism about upside after the recent run-up. Article Title

PBF Energy Trading Down 0.3%

Shares of NYSE:PBF opened at $61.74 on Friday. The firm has a fifty day moving average of $46.67 and a two-hundred day moving average of $41.64. The firm has a market capitalization of $7.30 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 0.10 and a beta of 0.11. PBF Energy Inc. has a 12-month low of $21.24 and a 12-month high of $68.33. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the prior year, the firm earned ($3.53) earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that PBF Energy Inc. will post 10.94 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. PBF Energy’s dividend payout ratio is currently 29.65%.

About PBF Energy

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.