Thor Investment Management Inc. OH ADV Sells 12,619 Shares of PBF Energy Inc. $PBF

Thor Investment Management Inc. OH ADV lessened its stake in PBF Energy Inc. (NYSE:PBF) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,017 shares of the oil and gas company’s stock after selling 12,619 shares during the period. PBF Energy comprises approximately 3.3% of Thor Investment Management Inc. OH ADV’s investment portfolio, making the stock its 8th largest holding. Thor Investment Management Inc. OH ADV owned 0.06% of PBF Energy worth $5,696,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after purchasing an additional 242 shares during the period. PNC Financial Services Group Inc. grew its position in PBF Energy by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 260 shares during the period. Janney Montgomery Scott LLC raised its position in shares of PBF Energy by 5.1% in the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 383 shares during the period. Pictet Asset Management Holding SA raised its position in shares of PBF Energy by 3.2% in the first quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the oil and gas company’s stock worth $682,000 after acquiring an additional 441 shares during the period. Finally, Corient Private Wealth LLC raised its position in shares of PBF Energy by 4.1% in the fourth quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 483 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other PBF Energy news, Director Thomas Nimbley sold 116,008 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the completion of the sale, the director directly owned 793,737 shares in the company, valued at approximately $58,522,229.01. The trade was a 12.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital sold 170,000 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 13,326,127 shares of the company’s stock, valued at $1,173,098,959.81. The trade was a 1.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 4,366,374 shares of company stock worth $318,757,737. 5.50% of the stock is currently owned by insiders.

PBF Energy Price Performance

PBF traded up $6.19 during midday trading on Tuesday, hitting $91.21. 3,398,105 shares of the company traded hands, compared to its average volume of 3,365,844. The business has a 50 day simple moving average of $74.59 and a two-hundred day simple moving average of $56.54. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $91.53. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.06 and a beta of 0.18. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the previous year, the company earned ($1.03) earnings per share. The company’s quarterly revenue was up 56.2% on a year-over-year basis. On average, equities analysts forecast that PBF Energy Inc. will post 24.69 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 14th. PBF Energy’s payout ratio is presently 9.73%.

Analysts Set New Price Targets

PBF has been the topic of a number of analyst reports. UBS Group restated a “buy” rating and set a $99.00 target price on shares of PBF Energy in a research report on Monday, October 5th. Mizuho upped 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. TD Cowen reaffirmed a “hold” rating on shares of PBF Energy in a report on Thursday, October 1st. BMO Capital Markets reiterated a “market perform” rating on shares of PBF Energy in a research report on Thursday, October 1st. Finally, Citigroup increased their price target on PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.55.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.