Great West Life Assurance Co. Can Raises Stake in PBF Energy Inc. (NYSE:PBF)


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Great West Life Assurance Co. Can grew its stake in shares of PBF Energy Inc. (NYSE:PBF) by 90.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 115,385 shares of the oil and gas company’s stock after acquiring an additional 54,816 shares during the period. Great West Life Assurance Co. Can’s holdings in PBF Energy were worth $656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP purchased a new stake in shares of PBF Energy during the 3rd quarter worth $59,000. Cigna Investments Inc. New purchased a new stake in shares of PBF Energy during the 2nd quarter worth $115,000. First Republic Investment Management Inc. purchased a new stake in shares of PBF Energy during the 2nd quarter worth $137,000. CIBC Asset Management Inc acquired a new position in shares of PBF Energy during the 3rd quarter worth $79,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of PBF Energy by 27.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,778 shares of the oil and gas company’s stock worth $151,000 after buying an additional 3,218 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

NYSE PBF opened at $7.27 on Thursday. PBF Energy Inc. has a 12 month low of $4.06 and a 12 month high of $33.45. The company has a 50-day moving average of $7.34 and a 200-day moving average of $7.44. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.66 and a quick ratio of 0.87. The company has a market cap of $873.33 million, a P/E ratio of -1.55 and a beta of 2.68.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported ($2.87) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.57) by ($0.30). PBF Energy had a negative net margin of 2.70% and a negative return on equity of 11.97%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the company earned $0.66 EPS. The company’s revenue was down 43.0% compared to the same quarter last year. As a group, equities research analysts anticipate that PBF Energy Inc. will post -9.06 EPS for the current year.

In related news, insider Control Empresarial De Capital acquired 40,000 shares of the company’s stock in a transaction dated Monday, December 28th. The stock was bought at an average price of $6.87 per share, with a total value of $274,800.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

PBF has been the subject of several research reports. Piper Sandler cut their price target on PBF Energy from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 13th. Wells Fargo & Company downgraded PBF Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $19.00 to $6.50 in a research note on Wednesday, September 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $8.00 price target on shares of PBF Energy in a research note on Thursday, October 15th. Credit Suisse Group started coverage on shares of PBF Energy in a research note on Thursday, January 7th. They issued an “underperform” rating and a $5.00 target price for the company. Finally, Morgan Stanley downgraded shares of PBF Energy from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $7.00 to $9.00 in a research note on Friday, December 11th. Eleven investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. PBF Energy has an average rating of “Hold” and a consensus target price of $6.75.

PBF Energy Profile

PBF Energy Inc, together with 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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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