Wells Fargo & Company MN lowered its stake in PBF Energy Inc (NYSE:PBF) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 278,563 shares of the oil and gas company’s stock after selling 3,382 shares during the period. Wells Fargo & Company MN’s holdings in PBF Energy were worth $13,903,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PBF. Bank of New York Mellon Corp lifted its stake in PBF Energy by 86.0% in 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 in the last quarter. OppenheimerFunds Inc. lifted its stake in PBF Energy by 408.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,026,916 shares of the oil and gas company’s stock valued at $43,059,000 after buying an additional 824,871 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in PBF Energy by 579.1% in the 3rd quarter. Hennessy Advisors Inc. now owns 520,900 shares of the oil and gas company’s stock valued at $25,998,000 after buying an additional 444,200 shares in the last quarter. Scout Investments Inc. purchased a new stake in PBF Energy in the 3rd quarter valued at approximately $18,569,000. Finally, First Quadrant L P CA purchased a new stake in PBF Energy in the 3rd quarter valued at approximately $17,779,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.
PBF has been the topic of a number of recent research reports. Citigroup upped their target price on PBF Energy from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, September 7th. Credit Suisse Group upped their target price on PBF Energy from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, October 5th. Goldman Sachs Group raised PBF Energy from a “sell” rating to a “neutral” rating in a research note on Friday, September 7th. Wells Fargo & Co reduced their price target on PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, August 10th. Finally, Morgan Stanley set a $54.00 price target on PBF Energy and gave the stock a “sell” rating in a research note on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.25.
Shares of PBF Energy stock opened at $33.75 on Friday. PBF Energy Inc has a fifty-two week low of $28.25 and a fifty-two week high of $53.91. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.79.
PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. Analysts expect that PBF Energy Inc will post 2.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, November 14th. PBF Energy’s dividend payout ratio is presently 105.26%.
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PBF Energy Company 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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