Y Intercept Hong Kong Ltd Increases Stake in PBF Energy Inc. $PBF

Y Intercept Hong Kong Ltd lifted its position in shares of PBF Energy Inc. (NYSE:PBF) by 71.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,796 shares of the oil and gas company’s stock after buying an additional 29,814 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.06% of PBF Energy worth $3,419,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Merit Financial Group LLC grew its holdings in shares of PBF Energy by 3.4% during the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 325 shares during the last quarter. Next Level Private LLC increased its holdings in shares of PBF Energy by 0.6% in the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock valued at $1,808,000 after purchasing an additional 378 shares during the period. Janney Montgomery Scott LLC raised its stake 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 purchasing an additional 383 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PBF Energy by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 432 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of PBF Energy by 3.2% during 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 purchasing an additional 441 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the sale, the insider owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 2,591,570 shares of company stock valued at $116,278,586. 5.50% of the stock is owned by insiders.

Analyst Ratings Changes

PBF has been the subject of several recent research reports. TD Cowen raised shares of PBF Energy from a “sell” rating to a “hold” rating and raised their price target for the company from $36.00 to $39.00 in a research report on Monday, June 29th. Wall Street Zen upgraded PBF Energy from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley boosted their target price on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. BMO Capital Markets lifted their target price on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Finally, The Goldman Sachs Group assumed coverage on PBF Energy in a report on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of “Reduce” and a consensus target price of $36.69.

PBF Energy Stock Down 2.4%

Shares of NYSE PBF traded down $1.19 during mid-day trading on Tuesday, reaching $48.07. 588,915 shares of the company traded hands, compared to its average volume of 3,375,248. PBF Energy Inc. has a fifty-two week low of $21.24 and a fifty-two week high of $52.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The stock has a market cap of $5.69 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. The company’s fifty day moving average is $41.89 and its two-hundred day moving average is $38.55.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. PBF Energy’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted ($3.53) earnings per share. On average, analysts expect that PBF Energy Inc. will post 8.55 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.3%. PBF Energy’s payout ratio is 29.65%.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.