Hsbc Holdings PLC Grows Stock Position in PBF Energy Inc. $PBF

Hsbc Holdings PLC increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 81.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,674 shares of the oil and gas company’s stock after purchasing an additional 30,430 shares during the quarter. Hsbc Holdings PLC’s holdings in PBF Energy were worth $1,840,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Merit Financial Group LLC boosted its stake in shares of PBF Energy by 3.4% in the 4th quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 325 shares during the period. Next Level Private LLC increased its stake in shares of PBF Energy by 0.6% during the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PBF Energy by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after buying an additional 432 shares during the period. Corient Private Wealth LLC raised its holdings in PBF Energy by 4.1% in the fourth quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 483 shares in the last quarter. Finally, Venture Visionary Partners LLC raised its holdings in PBF Energy by 5.0% in the fourth quarter. Venture Visionary Partners LLC now owns 10,616 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 504 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Key Headlines Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF Energy stock has benefited from a rise in refining-related optimism, with a recent report noting that the end of the U.S.-Iran ceasefire helped boost energy shares and “gushed” PBF higher this week. Article Title
• Positive Sentiment: Wall Street Zen upgraded PBF Energy from “hold” to “buy,” adding to a generally constructive backdrop for the stock.
• Positive Sentiment: Recent strength in crack spreads and broader refining business trends continue to support sentiment toward PBF Energy’s earnings power. Article Title

Wall Street Analyst Weigh In

Several research firms have commented on PBF. TD Cowen upgraded shares of PBF Energy from a “sell” rating to a “hold” rating and boosted their price target for the stock from $36.00 to $39.00 in a report on Monday, June 29th. Zacks Research lowered shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Scotiabank raised their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Citigroup lifted their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Freedom Capital upgraded shares of PBF Energy to a “hold” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $36.69.

PBF Energy Stock Down 0.3%

PBF Energy stock traded down $0.17 during mid-day trading on Friday, hitting $53.14. The company had a trading volume of 1,692,350 shares, compared to its average volume of 2,622,319. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $54.82. The business has a fifty day moving average of $42.73 and a 200 day moving average of $39.18. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.16 and a beta of 0.11.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the prior year, the firm posted ($3.53) EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that PBF Energy Inc. will post 8.26 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. PBF Energy’s payout ratio is 29.65%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider owned 17,142,128 shares of the company’s stock, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 3,441,570 shares of company stock valued at $160,335,386 in the last three months. Corporate insiders own 5.50% of the company’s stock.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.