SG Americas Securities LLC Boosts Stock Position in PBF Energy Inc. $PBF

SG Americas Securities LLC raised its holdings in PBF Energy Inc. (NYSE:PBF) by 24.2% in the first quarter, Holdings Channel reports. The firm owned 99,241 shares of the oil and gas company’s stock after purchasing an additional 19,312 shares during the period. SG Americas Securities LLC’s holdings in PBF Energy were worth $4,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PBF. First Eagle Investment Management LLC raised its stake in shares of 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 buying an additional 40,129 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of PBF Energy during the 3rd quarter worth $823,000. Quantbot Technologies LP bought a new position in shares of PBF Energy during the 3rd quarter worth $1,546,000. Goldman Sachs Group Inc. increased its holdings in PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in PBF Energy in the 4th quarter worth about $1,485,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Trading Up 7.9%

Shares of PBF stock opened at $46.53 on Tuesday. PBF Energy Inc. has a 52-week low of $21.24 and a 52-week high of $52.18. The business’s fifty day moving average is $41.07 and its 200 day moving average is $37.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The company has a market capitalization of $5.50 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.14 and a beta of 0.12.

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

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s payout ratio is currently 29.65%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 362,000 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $43.50, for a total value of $15,747,000.00. Following the transaction, the insider owned 18,891,698 shares of the company’s stock, valued at $821,788,863. This represents a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 1,741,570 shares of company stock valued at $76,703,786. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PBF. Zacks Research downgraded shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Morgan Stanley lifted their target price on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. TD Cowen raised shares of PBF Energy from a “sell” rating to a “hold” rating and boosted their price target for the company from $36.00 to $39.00 in a research report on Monday. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a research note on Friday, April 10th. They set a “neutral” rating and a $49.00 price target on the stock. Finally, Wall Street Zen downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Sunday. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, PBF Energy has an average rating of “Reduce” and a consensus price target of $36.69.

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.