PBF Energy Inc. $PBF is Towle & Co.’s Largest Position

Towle & Co. decreased its position in PBF Energy Inc. (NYSE:PBF) by 35.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,995 shares of the oil and gas company’s stock after selling 137,839 shares during the quarter. PBF Energy accounts for about 4.6% of Towle & Co.’s investment portfolio, making the stock its largest holding. Towle & Co. owned approximately 0.21% of PBF Energy worth $11,857,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PBF. Goldman Sachs Group Inc. boosted its stake in shares of PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after purchasing an additional 3,550,820 shares during the period. Invesco Ltd. increased its stake in PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the period. AQR Capital Management LLC increased its stake in PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after buying an additional 1,454,500 shares during the period. Norges Bank acquired a new position in PBF Energy in the 4th quarter worth $34,243,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after buying an additional 1,159,628 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBF. TD Cowen raised their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday. Mizuho increased their price target on PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Scotiabank raised their price objective on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded PBF Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets upped their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $43.92.

Insider Transactions at PBF Energy

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

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $61.83 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $68.33. The firm’s 50-day simple moving average is $46.28 and its 200-day simple moving average is $41.49. The firm has a market cap of $7.31 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.15 and a beta of 0.11.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share 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 firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the prior year, the firm earned ($3.53) earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 1.8%. 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.