Aristeia Capital L.L.C. Raises Stake in PBF Energy Inc. $PBF

Aristeia Capital L.L.C. boosted its stake in shares of PBF Energy Inc. (NYSE:PBF) by 48.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 61,662 shares of the oil and gas company’s stock after purchasing an additional 20,153 shares during the period. Aristeia Capital L.L.C.’s holdings in PBF Energy were worth $1,672,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after acquiring an additional 3,550,820 shares during the period. State Street Corp lifted its stake in PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after purchasing an additional 60,294 shares during the last quarter. Invesco Ltd. grew its holdings in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after purchasing an additional 1,651,516 shares during the period. AQR Capital Management LLC increased its position in PBF Energy by 20.1% in the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after buying an additional 418,223 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in PBF Energy by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,400,702 shares of the oil and gas company’s stock worth $65,108,000 after buying an additional 331,404 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 687,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $49.49, for a total value of $34,024,375.00. Following the transaction, the insider directly owned 21,445,398 shares in the company, valued at approximately $1,061,332,747.02. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 5,136,225 shares of company stock valued at $247,811,451 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, June 12th. Citigroup boosted their price objective on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Scotiabank upped their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research lowered shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $36.46.

PBF Energy Stock Performance

NYSE PBF opened at $37.69 on Thursday. PBF Energy Inc. has a 1 year low of $20.98 and a 1 year high of $52.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The stock has a market capitalization of $4.46 billion, a PE ratio of 10.16, a P/E/G ratio of 0.13 and a beta of 0.12. The company’s 50 day simple moving average is $41.19 and its two-hundred day simple moving average is $37.51.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted ($3.53) EPS. Analysts predict that PBF Energy Inc. will post 7.69 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. PBF Energy’s payout ratio is presently 29.65%.

PBF Energy Company 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.