Goldman Sachs Group Inc. Grows Stake in PBF Energy Inc. $PBF

Goldman Sachs Group Inc. boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 127.9% during the 4th quarter, Holdings Channel reports. The firm owned 6,327,255 shares of the oil and gas company’s stock after buying an additional 3,550,820 shares during the period. Goldman Sachs Group Inc. owned about 0.05% of PBF Energy worth $171,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBF. Merit Financial Group LLC raised its position in shares of PBF Energy by 3.0% during the third quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 276 shares during the last quarter. Arizona State Retirement System grew its stake in PBF Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock valued at $774,000 after acquiring an additional 353 shares in the last quarter. Next Level Private LLC increased its holdings in PBF Energy by 0.6% in the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock valued at $1,808,000 after acquiring an additional 378 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after acquiring an additional 432 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in PBF Energy by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,306 shares of the oil and gas company’s stock worth $1,098,000 after purchasing an additional 511 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Price Performance

PBF Energy stock opened at $42.64 on Monday. PBF Energy Inc. has a 52-week low of $18.10 and a 52-week high of $52.18. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $42.34 and its 200 day moving average is $37.21. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.16 and a beta of 0.12.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned ($3.53) earnings per share. Sell-side analysts forecast that PBF Energy Inc. will post 6.7 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued 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 2.6%. PBF Energy’s payout ratio is 29.65%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PBF shares. Citigroup increased their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Piper Sandler boosted their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Morgan Stanley increased their price target on PBF Energy from $27.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $36.15.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 220,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $43.58, for a total value of $9,587,600.00. Following the sale, the insider owned 18,217,698 shares of the company’s stock, valued at approximately $793,927,278.84. This represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James E. Fedena sold 77,085 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total transaction of $3,823,416.00. Following the completion of the sale, the senior vice president owned 139,016 shares of the company’s stock, valued at $6,895,193.60. This trade represents a 35.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,342,425 shares of company stock worth $389,768,969 over the last three months. 5.50% of the stock is owned by insiders.

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.