Voleon Capital Management LP Grows Stake in PBF Energy Inc. $PBF

Voleon Capital Management LP boosted its stake in PBF Energy Inc. (NYSE:PBF) by 20.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,797 shares of the oil and gas company’s stock after buying an additional 5,031 shares during the quarter. Voleon Capital Management LP’s holdings in PBF Energy were worth $569,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after buying an additional 260,464 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of PBF Energy in the first quarter worth approximately $300,000. Nuveen Asset Management LLC boosted its stake in shares of PBF Energy by 94.7% in the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company’s stock worth $15,104,000 after acquiring an additional 276,672 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of PBF Energy during the fourth quarter worth approximately $803,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in PBF Energy in the 1st quarter valued at $191,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on PBF shares. Morgan Stanley lifted their target price on shares of PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Citigroup boosted their price target on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. UBS Group upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Finally, Piper Sandler reissued an “underweight” rating and issued a $22.00 target price (up from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $24.83.

PBF Energy Stock Up 5.5%

Shares of NYSE PBF opened at $29.96 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $24.93 and its two-hundred day moving average is $21.36. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $34.31. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -3.49 and a beta of 0.98.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the business posted ($0.54) earnings per share. The company’s quarterly revenue was down 14.4% on a year-over-year basis. Research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.7%. PBF Energy’s dividend payout ratio is -12.81%.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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 from crude oil.