Chicago Equity Partners LLC trimmed its stake in PBF Energy Inc (NYSE:PBF) by 32.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,810 shares of the oil and gas company’s stock after selling 32,570 shares during the quarter. Chicago Equity Partners LLC owned 0.06% of PBF Energy worth $3,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of PBF. Smithfield Trust Co. acquired a new position in PBF Energy in the second quarter worth approximately $121,000. Itau Unibanco Holding S.A. acquired a new position in PBF Energy in the second quarter worth approximately $132,000. Point72 Hong Kong Ltd acquired a new position in PBF Energy in the second quarter worth approximately $145,000. Harvest Fund Management Co. Ltd increased its holdings in PBF Energy by 172.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,908 shares of the oil and gas company’s stock worth $195,000 after buying an additional 2,475 shares during the last quarter. Finally, BLB&B Advisors LLC acquired a new position in PBF Energy in the third quarter worth approximately $216,000. 93.96% of the stock is owned by institutional investors and hedge funds.
Shares of PBF stock opened at $40.45 on Friday. PBF Energy Inc has a 12 month low of $28.25 and a 12 month high of $53.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.79. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 35.48, a P/E/G ratio of 0.90 and a beta of 1.51.
PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.03 by $0.10. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 39.6% compared to the same quarter last year. On average, sell-side analysts anticipate that PBF Energy Inc will post 3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.97%. PBF Energy’s dividend payout ratio (DPR) is presently 105.26%.
PBF has been the topic of a number of research reports. Credit Suisse Group increased their price objective on PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 5th. Royal Bank of Canada reiterated a “hold” rating and set a $46.00 price target on shares of PBF Energy in a report on Friday, August 3rd. Wells Fargo & Co lowered their price target on PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, August 10th. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating in a report on Friday, September 7th. Finally, Morgan Stanley set a $54.00 price target on PBF Energy and gave the company a “sell” rating in a report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $45.58.
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About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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