PBF Energy Inc (PBF) Shares Sold by Snow Capital Management LP
Snow Capital Management LP cut its holdings in PBF Energy Inc (NYSE:PBF) by 32.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,278,640 shares of the oil and gas company’s stock after selling 1,078,011 shares during the quarter. PBF Energy makes up approximately 3.6% of Snow Capital Management LP’s portfolio, making the stock its 3rd largest holding. Snow Capital Management LP’s holdings in PBF Energy were worth $80,778,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of PBF Energy in the third quarter valued at approximately $838,000. Bank of New York Mellon Corp grew its position in shares of PBF Energy by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 2,018,212 shares of the oil and gas company’s stock valued at $55,722,000 after purchasing an additional 50,806 shares during the last quarter. River Road Asset Management LLC grew its position in shares of PBF Energy by 0.6% in the fourth quarter. River Road Asset Management LLC now owns 592,025 shares of the oil and gas company’s stock valued at $20,987,000 after purchasing an additional 3,420 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of PBF Energy in the third quarter valued at approximately $707,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of PBF Energy in the fourth quarter valued at approximately $388,000.
Several equities analysts recently issued reports on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $35.00 price objective on shares of PBF Energy in a research note on Friday, February 23rd. ValuEngine raised shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reissued a “buy” rating and set a $44.00 price objective on shares of PBF Energy in a research note on Friday, February 16th. Cowen downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $30.00 to $31.00 in a research note on Friday, February 16th. Finally, Scotiabank reissued a “buy” rating and set a $41.00 price objective on shares of PBF Energy in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $34.40.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). PBF Energy had a return on equity of 4.97% and a net margin of 1.91%. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the company earned ($0.71) EPS. PBF Energy’s revenue was up 37.6% on a year-over-year basis. equities analysts expect that PBF Energy Inc will post 3.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, February 27th. PBF Energy’s payout ratio is currently 32.52%.
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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