CenterBook Partners LP Reduces Holdings in PBF Energy Inc. $PBF

CenterBook Partners LP lowered its position in shares of PBF Energy Inc. (NYSE:PBF) by 93.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,965 shares of the oil and gas company’s stock after selling 329,686 shares during the period. CenterBook Partners LP’s holdings in PBF Energy were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of PBF Energy in the 3rd quarter worth approximately $10,207,000. Nomura Holdings Inc. purchased a new stake in PBF Energy in the second quarter valued at approximately $5,843,000. Allianz Asset Management GmbH lifted its stake in PBF Energy by 1,232.0% during the third quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock worth $8,058,000 after purchasing an additional 247,039 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of PBF Energy by 264.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock worth $2,922,000 after buying an additional 70,312 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of PBF Energy during the third quarter worth $3,890,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE PBF opened at $34.37 on Friday. The stock’s 50-day simple moving average is $31.03 and its 200-day simple moving average is $30.75. The firm has a market capitalization of $3.98 billion, a PE ratio of -23.38, a price-to-earnings-growth ratio of 4.36 and a beta of 0.50. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. 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 (NYSE:PBF) last released its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company earned ($2.82) earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio is currently -74.83%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group boosted their price objective on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Citigroup boosted their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Finally, TD Cowen reiterated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $30.21.

Insider Activity

In other news, insider Control Empresarial De Capital sold 480,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $35.07, for a total value of $16,833,600.00. Following the completion of the sale, the insider directly owned 29,583,498 shares of the company’s stock, valued at approximately $1,037,493,274.86. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,385,879 shares of company stock worth $82,719,180 over the last 90 days. Company insiders own 5.30% of the company’s stock.

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.