Oakmont Investment Advisors Inc. Buys New Stake in PBF Energy Inc. $PBF

Oakmont Investment Advisors Inc. bought a new position in shares of PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 10,132 shares of the oil and gas company’s stock, valued at approximately $780,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after acquiring an additional 1,137,533 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after acquiring an additional 454,731 shares during the last quarter. Empowered Funds LLC increased its position in shares of PBF Energy by 198.0% during the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock valued at $16,944,000 after acquiring an additional 236,418 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in PBF Energy during the first quarter worth $8,527,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in PBF Energy by 361.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock worth $8,718,000 after acquiring an additional 148,124 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 490,000 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the transaction, the insider owned 14,992,128 shares of the company’s stock, valued at $1,068,339,041.28. This represents a 3.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew C. Lucey sold 225,473 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the transaction, the chief executive officer directly owned 495,771 shares in the company, valued at $35,655,850.32. This represents a 31.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,146,374 shares of company stock valued at $304,686,537. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PBF. BMO Capital Markets reissued a “market perform” rating on shares of PBF Energy in a research report on Thursday, October 1st. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Evercore started coverage on PBF Energy in a research report on Friday, July 17th. They set an “in-line” rating and a $58.00 target price for the company. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Citigroup lifted their target price on PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.55.

PBF Energy Stock Performance

Shares of PBF stock opened at $81.60 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 7.22, a P/E/G 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 firm’s 50-day simple moving average is $76.93 and its two-hundred day simple moving average is $58.06.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share 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 firm had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the firm earned ($1.03) EPS. The company’s revenue was up 56.2% compared to the same quarter last year. As a group, equities analysts forecast that PBF Energy Inc. will post 24.88 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.2750 per share. 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 is 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.