Intech Investment Management LLC Has $2.39 Million Stock Position in PBF Energy Inc. $PBF

Intech Investment Management LLC increased its position in shares of PBF Energy Inc. (NYSE:PBF) by 105.4% in the fourth quarter, HoldingsChannel reports. The firm owned 87,949 shares of the oil and gas company’s stock after purchasing an additional 45,140 shares during the period. Intech Investment Management LLC’s holdings in PBF Energy were worth $2,385,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PBF. Smartleaf Asset Management LLC increased its position in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares in the last quarter. Torren Management LLC acquired a new stake in shares of PBF Energy during the 4th quarter worth about $30,000. Hantz Financial Services Inc. increased its position in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 2,147 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,354 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Activity

In other news, insider Control Empresarial De Capital sold 1,100,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $46.21, for a total value of $50,831,000.00. Following the transaction, the insider owned 22,996,898 shares of the company’s stock, valued at approximately $1,062,686,656.58. This trade represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 8,091,425 shares of company stock valued at $378,831,009. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Wall Street Zen cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Citigroup raised their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $36.15.

PBF Energy Stock Down 1.3%

Shares of NYSE PBF opened at $42.59 on Thursday. The firm has a market capitalization of $5.04 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. 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 1 year low of $17.53 and a 1 year high of $52.18. The firm’s 50-day moving average is $42.62 and its 200-day moving average is $37.15.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted ($3.53) EPS. Equities analysts expect that PBF Energy Inc. will post 6.7 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is 29.65%.

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.