Bayforest Capital Ltd Purchases 20,547 Shares of PBF Energy Inc. $PBF

Bayforest Capital Ltd raised its stake in shares of PBF Energy Inc. (NYSE:PBF) by 212.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,219 shares of the oil and gas company’s stock after acquiring an additional 20,547 shares during the quarter. Bayforest Capital Ltd’s holdings in PBF Energy were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PBF. Fifth Third Bancorp raised its stake in PBF Energy by 125.7% in the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 803 shares during the last quarter. Allworth Financial LP boosted its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PBF Energy during the first quarter worth approximately $35,000. Neo Ivy Capital Management acquired a new stake in PBF Energy in the 1st quarter worth about $37,000. Finally, Activest Wealth Management boosted its holdings in PBF Energy by 199,900.0% in the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock worth $38,000 after buying an additional 1,999 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Up 5.5%

PBF opened at $29.96 on Wednesday. PBF Energy Inc. has a one year low of $13.61 and a one year high of $34.31. The stock has a market capitalization of $3.47 billion, a PE ratio of -3.49 and a beta of 0.98. The business’s 50 day moving average price is $24.93 and its 200 day moving average price is $21.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31.

PBF Energy (NYSE:PBF) last announced 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. The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.54) earnings per share. As a group, equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Mizuho lifted their price objective on PBF Energy from $22.00 to $23.00 and gave the stock an “underperform” rating in a report on Tuesday, May 13th. UBS Group upgraded PBF Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Scotiabank restated a “sector perform” rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Wells Fargo & Company boosted their target price on PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, Bank of America boosted their target price on PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and a consensus price target of $24.83.

PBF Energy Company 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.