Knightsbridge Asset Management LLC cut its holdings in shares of PBF Energy Inc (NYSE:PBF) by 82.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,164 shares of the oil and gas company’s stock after selling 277,735 shares during the quarter. PBF Energy comprises approximately 1.3% of Knightsbridge Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Knightsbridge Asset Management LLC owned 0.05% of PBF Energy worth $2,062,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ffcm LLC grew its stake in PBF Energy by 421.1% during the 4th quarter. Ffcm LLC now owns 4,758 shares of the oil and gas company’s stock worth $172,000 after buying an additional 3,845 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of PBF Energy in the 4th quarter valued at approximately $207,000. Ingalls & Snyder LLC purchased a new position in shares of PBF Energy in the 4th quarter valued at approximately $209,000. CIBC World Markets Inc. purchased a new position in shares of PBF Energy in the 4th quarter valued at approximately $213,000. Finally, Shelton Capital Management purchased a new stake in shares of PBF Energy in the third quarter valued at approximately $218,000.
Shares of PBF Energy Inc (PBF) traded up $0.32 during trading hours on Wednesday, hitting $30.95. The stock had a trading volume of 1,664,087 shares, compared to its average volume of 2,131,613. PBF Energy Inc has a one year low of $18.48 and a one year high of $37.01. The firm has a market cap of $3,390.00, a P/E ratio of 9.18, a PEG ratio of 0.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.57 and a quick ratio of 0.66.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.25). PBF Energy had a net margin of 1.91% and a return on equity of 4.97%. The business had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the company earned ($0.71) EPS. PBF Energy’s revenue for the quarter was up 37.6% on a year-over-year basis. research analysts expect that PBF Energy Inc will post 3.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Tuesday, February 27th. PBF Energy’s payout ratio is 35.29%.
PBF has been the subject of several research reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price objective on shares of PBF Energy in a report on Friday, February 23rd. ValuEngine raised PBF Energy from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Scotiabank reaffirmed a “buy” rating and issued a $41.00 price objective on shares of PBF Energy in a research report on Wednesday, January 10th. Zacks Investment Research downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $34.00 price target on shares of PBF Energy in a research report on Tuesday, January 30th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $34.40.
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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