Quantitative Investment Management LLC Buys New Holdings in PBF Energy Inc. $PBF

Quantitative Investment Management LLC purchased a new position in shares of PBF Energy Inc. (NYSE:PBF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,778 shares of the oil and gas company’s stock, valued at approximately $399,000.

Several other institutional investors and hedge funds have also bought and sold shares of PBF. Archer Investment Corp acquired a new stake in shares of PBF Energy in the second quarter worth $347,000. Wedge Capital Management L L P NC boosted its holdings in PBF Energy by 19.3% in the second quarter. Wedge Capital Management L L P NC now owns 43,848 shares of the oil and gas company’s stock valued at $1,996,000 after purchasing an additional 7,107 shares during the last quarter. Parallel Advisors LLC grew its position in PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 242 shares during the period. Bull Harbor Capital LLC purchased a new position in shares of PBF Energy during the 1st quarter valued at about $212,000. Finally, Amundi purchased a new position in shares of PBF Energy during the 1st quarter valued at about $1,574,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Thomas J. Nimbley sold 116,008 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the completion of the sale, the director directly owned 793,737 shares in the company, valued at approximately $58,522,229.01. This trade represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul T. Davis sold 63,295 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $70.40, for a total transaction of $4,455,968.00. Following the completion of the transaction, the senior vice president owned 183,426 shares in the company, valued at $12,913,190.40. The trade was a 25.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,912,674 shares of company stock worth $360,769,134. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on PBF shares. Evercore started coverage on PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 target price on the stock. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Freedom Capital downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. TD Cowen raised their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, PBF Energy has a consensus rating of “Reduce” and a consensus target price of $50.92.

PBF Energy Price Performance

Shares of NYSE PBF opened at $75.14 on Wednesday. The firm has a 50-day simple moving average of $61.99 and a 200-day simple moving average of $48.63. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 0.08 and a beta of 0.09. PBF Energy Inc. has a 52 week low of $25.62 and a 52 week high of $76.16.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.07. The company had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. PBF Energy’s revenue was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.03) EPS. On average, equities analysts predict that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.