Hsbc Holdings PLC Raises Position in PBF Energy Inc. $PBF

Hsbc Holdings PLC grew its position in shares of PBF Energy Inc. (NYSE:PBF) by 34.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,790 shares of the oil and gas company’s stock after buying an additional 23,116 shares during the quarter. Hsbc Holdings PLC owned 0.08% of PBF Energy worth $4,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the period. Invesco Ltd. boosted its stake in shares of PBF Energy by 147.4% in the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares during the period. Norges Bank purchased a new stake in PBF Energy during the fourth quarter valued at $34,243,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after acquiring an additional 1,159,628 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $61.74 on Friday. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.10 and a beta of 0.11. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $68.33. The stock’s 50 day simple moving average is $46.67 and its two-hundred day simple moving average is $41.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted ($3.53) earnings per share. As a group, equities analysts anticipate that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, May 14th. PBF Energy’s payout ratio is presently 29.65%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the completion of the sale, the insider owned 15,712,128 shares of the company’s stock, valued at $856,625,218.56. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 3,541,570 shares of company stock worth $165,787,386 in the last three months. Insiders own 5.50% of the company’s stock.

PBF Energy News Summary

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF was added to multiple Zacks Rank #1 (Strong Buy) lists on July 24, including momentum, value, income, and general strong-buy screens, which can boost trader interest and signal improving analyst sentiment. Article Title
• Positive Sentiment: Several Zacks pieces highlighted PBF as a top-ranked growth, value, income, and momentum stock, reinforcing the idea that the name is screening well across multiple investment styles. Article Title
• Positive Sentiment: PBF was featured in a “Best Momentum Stocks” article and noted as being up strongly over the past week, suggesting short-term buying momentum remains intact. Article Title
• Neutral Sentiment: One article compared PBF’s year-to-date performance with peers like Phillips 66, which is mainly a relative-performance check and not a direct catalyst. Article Title
• Neutral Sentiment: Another note said PBF does not have the ideal setup for a likely earnings beat ahead of next week’s report, so investors may remain cautious until the company releases results. Article Title
• Negative Sentiment: Seeking Alpha published an earnings preview titled “Don’t Get Trapped At The Top”, which suggests some skepticism about upside after the recent run-up. Article Title

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. The Goldman Sachs Group upped their price objective on PBF Energy from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen lifted their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday. BMO Capital Markets boosted their price target on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Finally, Zacks Research cut PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Reduce” and a consensus target price of $45.62.

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.