Great Lakes Advisors LLC Invests $6.59 Million in PBF Energy Inc. $PBF

Great Lakes Advisors LLC acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 218,371 shares of the oil and gas company’s stock, valued at approximately $6,588,000. Great Lakes Advisors LLC owned 0.19% of PBF Energy at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its stake in PBF Energy by 13.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 23,112 shares of the oil and gas company’s stock worth $697,000 after buying an additional 2,802 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of PBF Energy in the third quarter worth about $3,890,000. Deseret Mutual Benefit Administrators grew its position in shares of PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in PBF Energy by 264.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after purchasing an additional 70,312 shares during the period. Finally, Hara Capital LLC raised its stake in PBF Energy by 1.4% during the 3rd quarter. Hara Capital LLC now owns 596,369 shares of the oil and gas company’s stock valued at $17,992,000 after purchasing an additional 8,360 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Up 0.9%

Shares of PBF opened at $33.21 on Friday. The stock has a market capitalization of $3.85 billion, a PE ratio of -7.14, a P/E/G ratio of 5.82 and a beta of 0.47. The company’s fifty day moving average is $30.69 and its 200 day moving average is $29.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $41.47.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same quarter last year, the business earned ($1.50) earnings per share. PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. Sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PBF shares. Citigroup upped their price target on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Zacks Research lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Finally, Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $31.00 to $38.00 in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $30.14.

Insider Buying and Selling

In other news, SVP Paul T. Davis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at $7,310,858. This trade represents a 20.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Control Empresarial De Capital sold 260,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $33.17, for a total value of $8,624,200.00. Following the completion of the transaction, the insider owned 30,407,498 shares of the company’s stock, valued at approximately $1,008,616,708.66. This trade represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 894,624 shares of company stock valued at $30,997,335 in the last quarter. 5.30% of the stock is currently owned by insiders.

About PBF Energy

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.