Allspring Global Investments Holdings LLC Has $8.72 Million Stock Holdings in PBF Energy Inc. $PBF

Allspring Global Investments Holdings LLC grew its position in shares of PBF Energy Inc. (NYSE:PBF) by 361.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,148 shares of the oil and gas company’s stock after buying an additional 148,124 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.16% of PBF Energy worth $8,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Torren Management LLC bought a new position in shares of PBF Energy during the fourth quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new stake in shares of PBF Energy in the fourth quarter valued at approximately $31,000. Leonteq Securities AG bought a new stake in shares of PBF Energy in the first quarter valued at approximately $33,000. Smartleaf Asset Management LLC grew its position in PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after buying an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in PBF Energy during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Down 2.6%

Shares of NYSE PBF opened at $64.31 on Thursday. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.17 and a beta of 0.11. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a 12 month low of $21.24 and a 12 month high of $68.33. The stock has a 50-day moving average price of $45.86 and a two-hundred day moving average price of $41.26.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.32 billion. During the same quarter in the previous year, the business posted ($3.53) earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts forecast that PBF Energy Inc. will post 9.76 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio is presently 29.65%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 3,541,570 shares of company stock valued at $165,787,386 in the last ninety days. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PBF. BMO Capital Markets lifted their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Freedom Capital raised PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Mizuho raised their price target on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group initiated coverage on PBF Energy in a research note on Friday, April 10th. They issued a “neutral” rating and a $49.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $42.23.

PBF Energy 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.