PBF Energy Inc. (PBF) Position Lowered by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC reduced its position in shares of PBF Energy Inc. (NYSE:PBF) by 86.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,290 shares of the oil and gas company’s stock after selling 48,400 shares during the period. Nisa Investment Advisors LLC’s holdings in PBF Energy were worth $162,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in shares of PBF Energy during the fourth quarter worth about $488,000. Teachers Advisors LLC increased its position in shares of PBF Energy by 139.6% in the fourth quarter. Teachers Advisors LLC now owns 359,984 shares of the oil and gas company’s stock worth $10,036,000 after buying an additional 209,738 shares in the last quarter. Bank of Montreal Can increased its position in shares of PBF Energy by 18.3% in the first quarter. Bank of Montreal Can now owns 65,521 shares of the oil and gas company’s stock worth $1,452,000 after buying an additional 10,142 shares in the last quarter. Sanders Morris Harris Inc. acquired a new position in shares of PBF Energy during the first quarter worth about $2,001,000. Finally, ProShare Advisors LLC increased its position in shares of PBF Energy by 10.9% in the first quarter. ProShare Advisors LLC now owns 11,255 shares of the oil and gas company’s stock worth $250,000 after buying an additional 1,110 shares in the last quarter.
PBF Energy Inc. (PBF) traded down 0.98% on Wednesday, reaching $21.24. The company had a trading volume of 460,576 shares. PBF Energy Inc. has a one year low of $18.48 and a one year high of $30.98. The firm’s market capitalization is $2.33 billion. The company’s 50 day moving average is $22.23 and its 200-day moving average is $22.09.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.14 earnings per share. On average, equities research analysts expect that PBF Energy Inc. will post $0.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.20 annualized dividend and a yield of 5.59%. PBF Energy’s payout ratio is -363.64%.
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A number of research analysts have recently issued reports on PBF shares. Citigroup Inc. reissued a “buy” rating and issued a $37.50 price objective (down from $39.00) on shares of PBF Energy in a research note on Saturday, April 22nd. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Scotiabank set a $24.00 price objective on PBF Energy and gave the company a “buy” rating in a research note on Saturday, May 6th. US Capital Advisors reaffirmed a “hold” rating on shares of PBF Energy in a research note on Monday, May 22nd. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating on shares of PBF Energy in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. PBF Energy presently has an average rating of “Hold” and a consensus price target of $23.33.
In other news, insider Connor Thomas L. O acquired 10,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were acquired at an average cost of $20.17 per share, with a total value of $201,700.00. Following the transaction, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the transaction, 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. Insiders own 2.55% of the company’s stock.
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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