Pitcairn Co. cut its stake in PBF Energy Inc. (NYSE:PBF) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,407 shares of the oil and gas company’s stock after selling 1,951 shares during the period. Pitcairn Co.’s holdings in PBF Energy were worth $646,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. State Street Corp grew its position in PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after acquiring an additional 1,611,707 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in PBF Energy by 167.1% during the second quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock valued at $1,673,000 after buying an additional 47,041 shares during the period. Cadence Capital Management LLC boosted its position in PBF Energy by 30.4% during the second quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock valued at $576,000 after buying an additional 6,025 shares during the period. Arizona State Retirement System purchased a new stake in PBF Energy during the second quarter valued at about $1,030,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in PBF Energy by 50.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares during the period.
Several research firms have issued reports on PBF. Zacks Investment Research upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Cowen and Company reaffirmed a “buy” rating and set a $30.00 price objective on shares of PBF Energy in a research note on Thursday, August 17th. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Scotiabank set a $24.00 price objective on shares of PBF Energy and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Citigroup Inc. lowered their price objective on shares of PBF Energy from $37.50 to $33.50 and set a “buy” rating for the company in a research note on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PBF Energy has an average rating of “Hold” and an average target price of $26.56.
Shares of PBF Energy Inc. (NYSE PBF) traded up $0.71 during midday trading on Friday, hitting $31.29. 2,536,160 shares of the company’s stock were exchanged, compared to its average volume of 2,170,199. PBF Energy Inc. has a fifty-two week low of $18.48 and a fifty-two week high of $32.05. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $3,386.92, a P/E ratio of 65.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.42.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.22. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. research analysts forecast that PBF Energy Inc. will post 1.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, November 10th. PBF Energy’s dividend payout ratio is currently 57.42%.
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About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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