First Eagle Investment Management LLC Raises Holdings in PBF Energy Inc. $PBF

First Eagle Investment Management LLC increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,417 shares of the oil and gas company’s stock after acquiring an additional 22,000 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.44% of PBF Energy worth $10,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of PBF Energy by 170.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after purchasing an additional 3,612,447 shares during the period. Bank of New York Mellon Corp raised its holdings 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 valued at $40,504,000 after buying an additional 260,464 shares during the last quarter. American Century Companies Inc. boosted its position in PBF Energy by 1.7% during the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock valued at $36,231,000 after buying an additional 32,285 shares during the period. Charles Schwab Investment Management Inc. boosted its position in PBF Energy by 12.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock valued at $31,981,000 after buying an additional 182,456 shares during the period. Finally, Northern Trust Corp grew its holdings in PBF Energy by 0.8% in the 1st quarter. Northern Trust Corp now owns 1,390,455 shares of the oil and gas company’s stock worth $26,544,000 after acquiring an additional 11,499 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of PBF Energy in a report on Wednesday, October 8th. Tudor Pickering cut PBF Energy from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Citigroup lifted their price objective on 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 boosted their price target on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday. Finally, Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Monday, September 15th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, PBF Energy currently has an average rating of “Strong Sell” and an average price target of $27.83.

Insider Transactions at PBF Energy

In related news, CAO Steven John Andriola sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total transaction of $36,040.72. Following the completion of the sale, the chief accounting officer directly owned 20,974 shares in the company, valued at approximately $721,295.86. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Connor Thomas L. O sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president directly owned 207,984 shares of the company’s stock, valued at approximately $7,071,456. This represents a 12.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 381,048 shares of company stock worth $13,212,041 in the last three months. 5.30% of the stock is owned by insiders.

PBF Energy Stock Performance

PBF stock opened at $36.84 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $38.58. The stock has a market capitalization of $4.26 billion, a PE ratio of -7.92 and a beta of 0.79. The stock’s 50 day simple moving average is $30.82 and its 200 day simple moving average is $25.08.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.PBF Energy’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.50) EPS. As a group, research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. PBF Energy’s dividend payout ratio is presently -23.66%.

PBF Energy Profile

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.