PBF Energy Inc. (PBF) Stake Decreased by Cadence Capital Management LLC
Cadence Capital Management LLC decreased its holdings in PBF Energy Inc. (NYSE:PBF) by 40.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,339 shares of the oil and gas company’s stock after selling 10,536 shares during the period. Cadence Capital Management LLC’s holdings in PBF Energy were worth $424,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 2,503 shares during the period. Flinton Capital Management LLC bought a new position in shares of PBF Energy in the second quarter worth about $119,000. Sei Investments Co. boosted its stake in shares of PBF Energy by 391.7% in the second quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 4,814 shares during the period. Riverhead Capital Management LLC bought a new position in shares of PBF Energy in the second quarter worth about $186,000. Finally, BKS Advisors LLC bought a new position in shares of PBF Energy in the second quarter worth about $206,000.
A number of equities analysts have recently weighed in on the company. Goldman Sachs Group lowered PBF Energy from a “neutral” rating to a “sell” rating in a research note on Tuesday, November 28th. Barclays raised PBF Energy from an “underweight” rating to an “overweight” rating and increased their price target for the company from $28.00 to $39.00 in a research note on Tuesday, November 14th. Zacks Investment Research raised PBF Energy from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Friday, November 10th. Royal Bank Of Canada reissued a “hold” rating and set a $30.00 price target on shares of PBF Energy in a research note on Tuesday, November 7th. Finally, Tudor Pickering raised PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.00.
Shares of PBF Energy Inc. (PBF) traded down $0.69 during trading on Thursday, reaching $32.18. The company had a trading volume of 1,557,600 shares, compared to its average volume of 2,414,919. PBF Energy Inc. has a 52 week low of $18.48 and a 52 week high of $33.75. The company has a market capitalization of $3,616.88, a price-to-earnings ratio of 69.94, a PEG ratio of 2.00 and a beta of 1.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50.
PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.22. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company earned ($0.16) earnings per share. The firm’s revenue was up 21.4% on a year-over-year basis. sell-side analysts predict that PBF Energy Inc. will post 1.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, November 10th. PBF Energy’s payout ratio is 57.42%.
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PBF Energy Profile
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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