PBF Energy Inc. $PBF Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP raised its stake in PBF Energy Inc. (NYSE:PBF) by 90.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 63,433 shares of the oil and gas company’s stock after acquiring an additional 30,117 shares during the period. Engineers Gate Manager LP’s holdings in PBF Energy were worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in PBF Energy in the 4th quarter valued at $31,000. Leonteq Securities AG purchased a new position in PBF Energy in the 1st quarter valued at approximately $33,000. Smartleaf Asset Management LLC increased its stake in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 579 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in PBF Energy during the fourth quarter worth $57,000. Finally, Global Retirement Partners LLC raised its holdings in PBF Energy by 3,354.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 2,147 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $78.25 on Monday. PBF Energy Inc. has a one year low of $25.62 and a one year high of $82.61. The stock has a market cap of $9.28 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 0.08 and a beta of 0.09. The business’s fifty day moving average price is $66.93 and its two-hundred day moving average price is $51.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.03) earnings per share. On average, analysts forecast that PBF Energy Inc. will post 17.89 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio is 9.73%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PBF. Morgan Stanley upped their target price on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. UBS Group boosted their price objective on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Citigroup increased their price objective on shares of PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. TD Cowen raised their target price on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus target price of $53.42.

Insider Activity

In other news, CEO Matthew C. Lucey sold 142,364 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $73.50, for a total value of $10,463,754.00. Following the completion of the transaction, the chief executive officer owned 495,771 shares of the company’s stock, valued at $36,439,168.50. The trade was a 22.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Control Empresarial De Capital sold 315,776 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $77.78, for a total transaction of $24,561,057.28. Following the transaction, the insider directly owned 13,866,127 shares in the company, valued at $1,078,507,358.06. The trade was a 2.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,231,944 shares of company stock valued at $388,985,033 over the last quarter. 5.50% of the stock is currently owned by company insiders.

PBF Energy Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.