Union Bancaire Privee UBP SA Has $2.11 Million Stock Position in PBF Energy Inc. $PBF

Union Bancaire Privee UBP SA grew its stake in shares of PBF Energy Inc. (NYSE:PBF) by 49.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,556 shares of the oil and gas company’s stock after buying an additional 15,496 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in PBF Energy were worth $2,107,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PBF. First Eagle Investment Management LLC raised its position in PBF Energy by 7.9% in the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock valued at $16,519,000 after purchasing an additional 40,129 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PBF Energy during the third quarter valued at about $823,000. Quantbot Technologies LP bought a new stake in shares of PBF Energy during the third quarter worth about $1,546,000. Goldman Sachs Group Inc. increased its stake in shares of PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after buying an additional 3,550,820 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of PBF Energy in the fourth quarter valued at approximately $1,485,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Scotiabank lifted their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Sunday. The Goldman Sachs Group began coverage on shares of PBF Energy in a report on Friday, April 10th. They set a “neutral” rating and a $49.00 price target on the stock. TD Cowen reduced their price objective on shares of PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a research note on Monday, April 27th. Finally, BMO Capital Markets increased their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $36.46.

PBF Energy Stock Performance

Shares of PBF stock opened at $43.13 on Friday. The business’s 50 day simple moving average is $40.99 and its 200 day simple moving average is $37.78. PBF Energy Inc. has a one year low of $20.98 and a one year high of $52.18. The stock has a market capitalization of $5.10 billion, a PE ratio of 11.63, a PEG ratio of 0.14 and a beta of 0.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.53) EPS. As a group, research analysts forecast that PBF Energy Inc. will post 7.69 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were issued a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 2.6%. PBF Energy’s payout ratio is presently 29.65%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 362,000 shares of PBF Energy stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $43.50, for a total value of $15,747,000.00. Following the completion of the transaction, the insider directly owned 18,891,698 shares of the company’s stock, valued at approximately $821,788,863. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James E. Fedena sold 77,085 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $49.60, for a total value of $3,823,416.00. Following the completion of the transaction, the senior vice president directly owned 139,016 shares in the company, valued at $6,895,193.60. This represents a 35.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,767,026 shares of company stock worth $81,337,598. 5.50% of the stock is owned by company insiders.

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.