PBF Energy Inc. (PBF) Position Increased by Creative Planning
Creative Planning boosted its stake in shares of PBF Energy Inc. (NYSE:PBF) by 92.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,203 shares of the oil and gas company’s stock after buying an additional 2,503 shares during the period. Creative Planning’s holdings in PBF Energy were worth $116,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in PBF. Nomura Asset Management Co. Ltd. increased its stake in shares of PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of PBF Energy during the first quarter valued at $113,000. US Bancorp DE increased its stake in shares of PBF Energy by 35.6% in the first quarter. US Bancorp DE now owns 8,928 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 2,346 shares in the last quarter. IMS Capital Management purchased a new stake in shares of PBF Energy during the first quarter valued at $207,000. Finally, Stifel Financial Corp increased its stake in shares of PBF Energy by 9.0% in the first quarter. Stifel Financial Corp now owns 9,919 shares of the oil and gas company’s stock valued at $221,000 after buying an additional 818 shares in the last quarter.
PBF Energy Inc. (NYSE:PBF) traded down 0.98% on Wednesday, hitting $21.24. 460,126 shares of the stock were exchanged. The stock’s 50 day moving average price is $22.23 and its 200 day moving average price is $22.09. PBF Energy Inc. has a 52-week low of $18.48 and a 52-week high of $30.98. The firm’s market cap is $2.33 billion.
PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.09. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts forecast that PBF Energy Inc. will post $0.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.20 annualized dividend and a yield of 5.59%. PBF Energy’s dividend payout ratio (DPR) is currently -363.64%.
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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Credit Suisse Group downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research note on Tuesday, June 20th. Citigroup Inc. reduced their target price on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Finally, US Capital Advisors reissued a “hold” rating on shares of PBF Energy in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $23.33.
In related news, insider Connor Thomas L. O acquired 10,000 shares of PBF Energy stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average cost of $20.17 per share, for a total transaction of $201,700.00. Following the acquisition, the insider now owns 105,135 shares in the company, valued at $2,120,572.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the acquisition, the chief executive officer now owns 290,000 shares in the company, valued at approximately $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by insiders.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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