Putnam Investments LLC bought a new position in shares of PBF Energy Inc (NYSE:PBF) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 261,805 shares of the oil and gas company’s stock, valued at approximately $10,978,000. Putnam Investments LLC owned 0.23% of PBF Energy at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in PBF Energy by 86.0% during the 2nd 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 last quarter. OppenheimerFunds Inc. lifted its stake in shares of PBF Energy by 408.3% during the 2nd 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 period. JPMorgan Chase & Co. lifted its stake in shares of PBF Energy by 9.6% during the 1st quarter. JPMorgan Chase & Co. now owns 8,515,620 shares of the oil and gas company’s stock worth $288,681,000 after purchasing an additional 745,284 shares during the period. Van ECK Associates Corp lifted its stake in shares of PBF Energy by 20,662.9% during the 1st quarter. Van ECK Associates Corp now owns 719,850 shares of the oil and gas company’s stock worth $24,403,000 after purchasing an additional 716,383 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of PBF Energy by 114.9% during the 1st 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 period. Institutional investors own 93.38% of the company’s stock.
NYSE:PBF traded up $0.80 during mid-day trading on Friday, reaching $50.73. The stock had a trading volume of 1,191,234 shares, compared to its average volume of 2,058,418. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 44.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.47. PBF Energy Inc has a 1-year low of $26.88 and a 1-year high of $53.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 1.66.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $6.15 billion. PBF Energy had a return on equity of 9.82% and a net margin of 3.40%. The company’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities research analysts forecast that PBF Energy Inc will post 2.73 EPS for the current fiscal year.
Several research analysts recently weighed in on the company. Citigroup increased their target price on 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 cut their price objective on PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price objective on shares of PBF Energy in a research report on Friday, August 3rd. Morgan Stanley set a $54.00 price objective on PBF Energy and gave the company a “sell” rating in a research report on Friday. Finally, Macquarie raised PBF Energy from a “neutral” rating to an “outperform” rating in a research report on Monday, July 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $45.58.
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.
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