Towle & Co. Sells 163,483 Shares of PBF Energy Inc. (PBF)
Towle & Co. decreased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 12.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,153,070 shares of the oil and gas company’s stock after selling 163,483 shares during the period. PBF Energy accounts for 3.4% of Towle & Co.’s investment portfolio, making the stock its 12th largest position. Towle & Co. owned about 1.05% of PBF Energy worth $31,836,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of PBF. Nomura Asset Management Co. Ltd. increased its holdings in shares of PBF Energy by 50.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 1,580 shares in the last quarter. Creative Planning grew its holdings 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 stake in shares of PBF Energy in the second quarter worth $119,000. Huntington National Bank bought a new stake in shares of PBF Energy in the second quarter worth $126,000. Finally, Sei Investments Co. grew its holdings 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.
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A number of research firms recently commented on PBF. TheStreet upgraded PBF Energy from a “c” rating to a “b” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised PBF Energy from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Friday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $30.00 target price on shares of PBF Energy in a research note on Tuesday, November 7th. Scotiabank reaffirmed a “buy” rating on shares of PBF Energy in a research note on Friday, November 3rd. Finally, Tudor Pickering upgraded PBF Energy from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $26.56.
Shares of PBF Energy Inc. (NYSE PBF) traded up $0.42 during midday trading on Friday, hitting $31.29. 2,537,000 shares of the company’s stock traded hands, compared to its average volume of 2,170,199. PBF Energy Inc. has a 12 month low of $18.48 and a 12 month high of $32.05. The stock has a market capitalization of $3,433.01, a P/E ratio of 66.57, a PEG ratio of 1.97 and a beta of 1.42. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.
PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.22. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. equities research analysts expect that PBF Energy Inc. will post 1.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Friday, November 10th. PBF Energy’s dividend payout ratio is currently 57.42%.
PBF Energy Company 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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