Islay Capital Management LLC Makes New $831,000 Investment in PBF Energy Inc. $PBF

Islay Capital Management LLC bought a new position in PBF Energy Inc. (NYSE:PBF) in the third quarter, Holdings Channel.com reports. The firm bought 10,794 shares of the oil and gas company’s stock, valued at approximately $831,000.

Several other institutional investors have also recently modified their holdings of PBF. Engineers Gate Manager LP raised its position in PBF Energy by 90.4% during the 2nd quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company’s stock worth $2,887,000 after buying an additional 30,117 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of PBF Energy by 81.7% in the fourth quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock worth $1,840,000 after buying an additional 30,430 shares during the last quarter. Fifth Third Bancorp lifted its holdings in PBF Energy by 2,197.1% in the first quarter. Fifth Third Bancorp now owns 32,114 shares of the oil and gas company’s stock valued at $1,529,000 after acquiring an additional 30,716 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of PBF Energy in the 1st quarter valued at $2,965,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PBF Energy

In related news, Director Thomas Nimbley sold 116,008 shares of PBF Energy stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the completion of the transaction, the director directly owned 793,737 shares in the company, valued at approximately $58,522,229.01. This trade represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital sold 170,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $88.03, for a total value of $14,965,100.00. Following the completion of the sale, the insider directly owned 13,326,127 shares in the company, valued at $1,173,098,959.81. This represents a 1.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,146,374 shares of company stock worth $304,686,537. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

PBF has been the subject of a number of analyst reports. UBS Group reaffirmed a “buy” rating and issued a $99.00 price target on shares of PBF Energy in a report on Monday, October 5th. Morgan Stanley upped their price target on shares of PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a research report on Monday, September 14th. Citigroup raised their target price on PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a research report on Tuesday, October 6th. Mizuho upped their target price on shares of PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Finally, Freedom Capital cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.55.

PBF Energy Trading Up 1.9%

Shares of NYSE PBF traded up $1.51 during mid-day trading on Tuesday, reaching $82.77. 979,792 shares of the company’s stock were exchanged, compared to its average volume of 3,345,977. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 0.06 and a beta of 0.18. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $92.46. The company’s 50-day moving average is $76.43 and its 200-day moving average is $57.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the firm earned ($1.03) EPS. The business’s revenue was up 56.2% on a year-over-year basis. Analysts expect that PBF Energy Inc. will post 24.69 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio (DPR) is currently 9.73%.

About PBF Energy

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.