Caxton Associates LLP Makes New Investment in PBF Energy Inc. $PBF

Caxton Associates LLP acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 69,144 shares of the oil and gas company’s stock, valued at approximately $1,320,000. Caxton Associates LLP owned approximately 0.06% of PBF Energy at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of PBF Energy by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after acquiring an additional 260,464 shares in the last quarter. M&T Bank Corp acquired a new position in shares of PBF Energy in the first quarter worth about $300,000. Nuveen Asset Management LLC lifted its stake in shares of PBF Energy by 94.7% in the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company’s stock worth $15,104,000 after acquiring an additional 276,672 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in PBF Energy during the fourth quarter valued at approximately $803,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in PBF Energy during the first quarter valued at approximately $191,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PBF shares. UBS Group raised PBF Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Piper Sandler reissued an “underweight” rating and set a $22.00 price objective (up from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. Scotiabank reissued a “sector perform” rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Citigroup increased their target price on PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley increased their price objective on PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $24.83.

PBF Energy Stock Up 5.5%

Shares of PBF opened at $29.96 on Wednesday. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -3.49 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.31. The company has a 50-day moving average price of $24.93 and a two-hundred day moving average price of $21.36.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the company posted ($0.54) earnings per share. PBF Energy’s quarterly revenue was down 14.4% compared to the same quarter last year. Equities analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.7%. PBF Energy’s payout ratio is currently -12.81%.

PBF Energy Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.