Dorsey Wright & Associates lifted its position in shares of PBF Energy Inc (NYSE:PBF) by 391.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 71,980 shares of the oil and gas company’s stock after buying an additional 57,331 shares during the quarter. Dorsey Wright & Associates’ holdings in PBF Energy were worth $3,593,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in PBF. Bank of New York Mellon Corp lifted its stake in shares of PBF Energy by 86.0% during the second quarter. Bank of New York Mellon Corp now owns 4,003,420 shares of the oil and gas company’s stock valued at $167,862,000 after buying an additional 1,850,884 shares during the period. OppenheimerFunds Inc. increased its position in PBF Energy by 408.3% during the second quarter. OppenheimerFunds Inc. now owns 1,026,916 shares of the oil and gas company’s stock worth $43,059,000 after purchasing an additional 824,871 shares during the last quarter. Allianz Asset Management GmbH increased its position in PBF Energy by 114.9% during the first quarter. Allianz Asset Management GmbH now owns 1,080,440 shares of the oil and gas company’s stock worth $36,627,000 after purchasing an additional 577,582 shares during the last quarter. Hennessy Advisors Inc. increased its position in PBF Energy by 579.1% during the third quarter. Hennessy Advisors Inc. now owns 520,900 shares of the oil and gas company’s stock worth $25,998,000 after purchasing an additional 444,200 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in PBF Energy during the second quarter worth approximately $18,523,000. 93.38% of the stock is currently owned by institutional investors and hedge funds.
PBF has been the subject of several research analyst reports. Citigroup upped their price target on shares of PBF Energy from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, September 7th. Wells Fargo & Co dropped their price target on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, August 10th. Royal Bank of Canada reaffirmed a “hold” rating and set a $46.00 price target on shares of PBF Energy in a research report on Friday, August 3rd. Macquarie raised shares of PBF Energy from a “neutral” rating to an “outperform” rating in a research report on Monday, July 9th. Finally, ValuEngine lowered shares of PBF Energy from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.58.
PBF Energy stock opened at $50.73 on Friday. PBF Energy Inc has a 52-week low of $26.88 and a 52-week high of $53.91. The firm has a market capitalization of $5.68 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.47. The company has a quick ratio of 0.63, a current ratio of 1.66 and a debt-to-equity ratio of 0.70.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. PBF Energy had a net margin of 3.40% and a return on equity of 9.82%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was up 48.4% compared to the same quarter last year. Research analysts anticipate that PBF Energy Inc will post 2.73 EPS for the current fiscal year.
PBF Energy 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.
Further Reading: What is a Stop Order?
Want to see what other hedge funds are holding PBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Energy Inc (NYSE:PBF).
Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.