Victory Capital Management Inc. trimmed its position in PBF Energy (NYSE:PBF) by 17.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 268,772 shares of the oil and gas company’s stock after selling 56,550 shares during the period. Victory Capital Management Inc. owned about 0.24% of PBF Energy worth $9,111,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PBF. BlackRock Inc. boosted its position in shares of PBF Energy by 3.0% in the 4th quarter. BlackRock Inc. now owns 9,293,993 shares of the oil and gas company’s stock worth $329,471,000 after purchasing an additional 268,354 shares during the last quarter. Millennium Management LLC bought a new position in shares of PBF Energy in the 4th quarter worth $55,967,000. Goldman Sachs Group Inc. boosted its position in shares of PBF Energy by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,176,329 shares of the oil and gas company’s stock worth $41,701,000 after purchasing an additional 10,698 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of PBF Energy by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 922,780 shares of the oil and gas company’s stock worth $32,711,000 after purchasing an additional 14,283 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of PBF Energy by 187.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 874,725 shares of the oil and gas company’s stock worth $31,009,000 after purchasing an additional 570,856 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.
PBF has been the topic of several recent research reports. Citigroup raised their price target on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Howard Weil downgraded PBF Energy from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, April 11th. ValuEngine raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Cowen downgraded PBF Energy from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $30.00 to $31.00 in a research note on Friday, February 16th. Finally, JPMorgan Chase raised their price objective on PBF Energy from $34.00 to $35.00 and gave the stock an “underweight” rating in a research note on Monday, April 9th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.10.
PBF opened at $44.98 on Wednesday. PBF Energy has a 1 year low of $18.48 and a 1 year high of $46.40. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.50 and a current ratio of 1.50.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 3rd. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.10). PBF Energy had a net margin of 2.09% and a return on equity of 4.39%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the business earned ($0.20) EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. analysts expect that PBF Energy will post 3.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Tuesday, May 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, May 14th. PBF Energy’s dividend payout ratio is 105.26%.
PBF Energy Company Profile
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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