PBF Energy Inc. $PBF Stock Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its stake in shares of PBF Energy Inc. (NYSE:PBF) by 123,826.3% in the third quarter, HoldingsChannel reports. The fund owned 47,092 shares of the oil and gas company’s stock after acquiring an additional 47,054 shares during the period. Fulcrum Asset Management LLP’s holdings in PBF Energy were worth $3,543,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. Dimensional Fund Advisors LP increased its stake in shares of PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in PBF Energy by 54.6% in 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 buying an additional 1,137,533 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in PBF Energy by 85.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,428 shares of the oil and gas company’s stock worth $21,279,000 after buying an additional 119,385 shares in the last quarter. Sei Investments Co. increased its stake in PBF Energy by 41.4% in the 1st quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after buying an additional 106,819 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in 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 period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PBF Energy

In related news, Director Thomas J. Nimbley sold 116,008 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were 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 of the company’s stock, 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 can be accessed through this hyperlink. Also, CAO Steven John Andriola sold 2,522 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $76.69, for a total transaction of $193,412.18. Following the completion of the transaction, the chief accounting officer directly owned 16,659 shares of the company’s stock, valued at approximately $1,277,578.71. This trade represents a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,380,060 shares of company stock valued at $181,363,248 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

PBF Energy Trading Up 3.4%

Shares of PBF stock opened at $69.57 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 3.11, a price-to-earnings-growth ratio of 0.07 and a beta of 0.15. PBF Energy Inc. has a 12-month low of $25.62 and a 12-month high of $92.46. The stock’s 50-day moving average price is $77.59 and its 200-day moving average price is $54.71.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 EPS for the quarter, beating analysts’ consensus estimates of $11.12 by $1.66. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $10.60 billion. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The firm’s revenue was up 58.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.52) earnings per share. Equities research analysts predict that PBF Energy Inc. will post 26.78 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.3250 per share. This is a positive change from PBF Energy’s previous quarterly dividend of $0.2750. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 1.9%. PBF Energy’s payout ratio is currently 4.91%.

Analyst Ratings Changes

PBF has been the subject of a number of recent analyst reports. TD Cowen upped their price objective on PBF Energy from $73.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, October 22nd. Evercore assumed 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. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Mizuho boosted their price target on PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Finally, Weiss Ratings upgraded PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.50.

PBF Energy Company Profile

PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast.

PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.

The company also has logistics operations that support the movement and storage of crude oil and refined products through pipelines, terminals and related infrastructure.