PBF Energy Inc. $PBF Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in PBF Energy Inc. (NYSE:PBF) by 135.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,277 shares of the oil and gas company’s stock after purchasing an additional 3,613 shares during the period. PNC Financial Services Group Inc.’s holdings in PBF Energy were worth $136,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its position in PBF Energy by 66.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 818 shares during the period. King Luther Capital Management Corp raised its stake in shares of PBF Energy by 10.9% in the second quarter. King Luther Capital Management Corp now owns 36,866 shares of the oil and gas company’s stock valued at $799,000 after acquiring an additional 3,626 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in PBF Energy by 5.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,275 shares of the oil and gas company’s stock valued at $483,000 after purchasing an additional 1,162 shares during the period. Fox Run Management L.L.C. acquired a new position in PBF Energy during the 2nd quarter worth $258,000. Finally, First Eagle Investment Management LLC increased its holdings in PBF Energy by 4.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 507,417 shares of the oil and gas company’s stock worth $10,996,000 after purchasing an additional 22,000 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank lifted their price objective on PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Cowen reiterated a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research report on Tuesday. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a report on Monday, September 15th. Finally, Bank of America lifted their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average target price of $28.92.

PBF Energy Stock Up 2.2%

Shares of NYSE:PBF opened at $34.50 on Friday. The firm has a 50 day simple moving average of $33.18 and a 200-day simple moving average of $27.09. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $41.47. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $4.00 billion, a PE ratio of -7.42 and a beta of 0.79.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same period last year, the business earned ($1.50) EPS. PBF Energy’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.2%. PBF Energy’s dividend payout ratio is -23.66%.

Insider Activity

In other news, CAO Steven John Andriola sold 1,048 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.39, for a total value of $36,040.72. Following the completion of the sale, the chief accounting officer directly owned 20,974 shares of the company’s stock, valued at approximately $721,295.86. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul T. Davis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the senior vice president owned 192,391 shares in the company, valued at approximately $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 507,045 shares of company stock worth $18,193,421 over the last ninety days. 5.30% of the stock is owned by corporate insiders.

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.