KLP Kapitalforvaltning AS Has $779,000 Stock Holdings in PBF Energy Inc. (NYSE:PBF)

KLP Kapitalforvaltning AS decreased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 8.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 40,800 shares of the oil and gas company’s stock after selling 3,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in PBF Energy were worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in shares of PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 803 shares in the last quarter. Allworth Financial LP raised its position in PBF Energy by 194.3% in the 1st 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 during the last quarter. Parallel Advisors LLC lifted its holdings in PBF Energy by 80.4% during the 1st quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock worth $46,000 after buying an additional 1,085 shares in the last quarter. Golden State Wealth Management LLC boosted its position in PBF Energy by 43.5% in the 1st quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 1,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of PBF Energy by 61.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 1,320 shares during the period. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PBF. Piper Sandler upped their price target on PBF Energy from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, July 22nd. Mizuho boosted 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. Citigroup upped their target price on shares of PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.08.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 48,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares of the company’s stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.70% of the company’s stock.

PBF Energy Trading Up 1.7%

Shares of NYSE PBF opened at $25.53 on Wednesday. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $42.64. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -2.81 and a beta of 0.84. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average is $22.55 and its 200-day moving average is $22.07.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Equities research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a yield of 4.31%. PBF Energy’s payout ratio is -12.09%.

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.