CenterBook Partners LP Acquires Shares of 352,651 PBF Energy Inc. $PBF

CenterBook Partners LP bought a new position in PBF Energy Inc. (NYSE:PBF) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 352,651 shares of the oil and gas company’s stock, valued at approximately $7,642,000. CenterBook Partners LP owned 0.30% of PBF Energy at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CWM LLC lifted its holdings in PBF Energy by 290.9% in the first quarter. CWM LLC now owns 5,414 shares of the oil and gas company’s stock worth $103,000 after buying an additional 4,029 shares during the period. Victory Capital Management Inc. lifted its stake in shares of PBF Energy by 163.6% in the 1st quarter. Victory Capital Management Inc. now owns 125,435 shares of the oil and gas company’s stock valued at $2,395,000 after purchasing an additional 77,858 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of PBF Energy during the first quarter valued at approximately $364,000. Cetera Investment Advisers grew its stake in PBF Energy by 22.5% in the first quarter. Cetera Investment Advisers now owns 45,659 shares of the oil and gas company’s stock worth $872,000 after purchasing an additional 8,378 shares during the period. Finally, Neo Ivy Capital Management bought a new position in PBF Energy in the first quarter worth $37,000. Institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Mizuho boosted their target price on shares of PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, September 15th. UBS Group boosted their price objective on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Tudor Pickering downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Morgan Stanley set a $27.00 price target on PBF Energy and gave the stock an “underweight” rating in a research report on Friday, October 3rd. Finally, Scotiabank upped their price target on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $28.92.

PBF Energy Price Performance

Shares of PBF opened at $34.89 on Friday. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $41.47. The company has a market capitalization of $4.04 billion, a P/E ratio of -7.50 and a beta of 0.79. The firm has a 50 day moving average of $32.75 and a 200 day moving average of $26.55. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.

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

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is presently -23.66%.

Insiders Place Their Bets

In other PBF Energy news, CAO Steven John Andriola sold 1,048 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.39, for a total transaction of $36,040.72. Following the transaction, the chief accounting officer owned 20,974 shares in the company, valued at approximately $721,295.86. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the completion of the sale, the senior vice president owned 200,744 shares of the company’s stock, valued at $7,315,111.36. This represents a 19.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 507,045 shares of company stock worth $18,193,421 in the last quarter. Insiders own 5.30% of the company’s stock.

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.