13,344 Shares in PBF Energy Inc (NYSE:PBF) Acquired by ING Groep NV
ING Groep NV acquired a new stake in shares of PBF Energy Inc (NYSE:PBF) during the second quarter, Holdings Channel reports. The firm acquired 13,344 shares of the oil and gas company’s stock, valued at approximately $297,000.
Other large investors also recently added to or reduced their stakes in the company. Clinton Group Inc. raised its stake in PBF Energy by 0.6% in the first quarter. Clinton Group Inc. now owns 29,207 shares of the oil and gas company’s stock valued at $648,000 after buying an additional 181 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in PBF Energy by 1.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 23,704 shares of the oil and gas company’s stock valued at $526,000 after buying an additional 314 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in PBF Energy by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 26,436 shares of the oil and gas company’s stock valued at $586,000 after buying an additional 316 shares in the last quarter. US Bancorp DE raised its stake in PBF Energy by 6.4% in the second quarter. US Bancorp DE now owns 9,498 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 570 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in PBF Energy by 9.0% in the first quarter. Stifel Financial Corp now owns 9,919 shares of the oil and gas company’s stock valued at $221,000 after buying an additional 818 shares in the last quarter.
Shares of PBF Energy Inc (NYSE PBF) traded down 1.45% on Thursday, reaching $21.72. The company’s stock had a trading volume of 1,204,866 shares. The company’s market cap is $2.38 billion. PBF Energy Inc has a 52-week low of $18.48 and a 52-week high of $30.98. The firm has a 50 day moving average of $22.31 and a 200 day moving average of $22.19.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.76 billion. PBF Energy had a negative return on equity of 23.24% and a negative net margin of 2.08%. During the same period in the previous year, the firm posted $0.14 EPS. Analysts predict that PBF Energy Inc will post $0.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.44%. PBF Energy’s payout ratio is presently -363.64%.
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Several equities research analysts have recently weighed in on the company. Scotiabank set a $24.00 price objective on PBF Energy and gave the company a “buy” rating in a research note on Saturday, May 6th. BidaskClub upgraded PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research lowered PBF Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Barclays PLC restated an “outperform” rating on shares of PBF Energy in a research report on Friday, April 14th. Finally, Citigroup Inc. decreased their price target on PBF Energy from $37.50 to $33.50 and set a “buy” rating on the stock in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PBF Energy currently has an average rating of “Hold” and a consensus target price of $23.33.
In related news, insider Connor Thomas L. O bought 10,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were purchased at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the purchase, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas J. Nimbley bought 50,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the purchase, the chief executive officer now owns 290,000 shares of the company’s stock, valued at approximately $5,710,100. The disclosure for this purchase can be found here. Insiders own 2.55% of the company’s stock.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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