BlackRock Inc. Raises Position in PBF Energy Inc (PBF)

BlackRock Inc. increased its stake in shares of PBF Energy Inc (NYSE:PBF) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,385,185 shares of the oil and gas company’s stock after buying an additional 755,088 shares during the period. BlackRock Inc. owned 9.12% of PBF Energy worth $518,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC lifted its position in PBF Energy by 38.2% during the 2nd quarter. Millennium Management LLC now owns 1,071,985 shares of the oil and gas company’s stock worth $44,948,000 after buying an additional 296,586 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in PBF Energy by 2.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 344,222 shares of the oil and gas company’s stock worth $14,433,000 after buying an additional 8,100 shares in the last quarter. Employees Retirement System of Texas acquired a new position in PBF Energy during the 2nd quarter worth about $3,774,000. Bank of New York Mellon Corp lifted its position in PBF Energy by 86.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,003,420 shares of the oil and gas company’s stock worth $167,862,000 after buying an additional 1,850,884 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in PBF Energy by 81.5% during the 2nd quarter. Renaissance Technologies LLC now owns 620,400 shares of the oil and gas company’s stock worth $26,013,000 after buying an additional 278,600 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

PBF Energy stock opened at $33.75 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.79. PBF Energy Inc has a 1 year low of $28.25 and a 1 year high of $53.91. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46.

PBF Energy (NYSE:PBF) last released its earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the company posted $1.44 EPS. The company’s revenue was up 39.6% compared to the same quarter last year. On average, analysts forecast that PBF Energy Inc will post 2.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.56%. PBF Energy’s dividend payout ratio (DPR) is presently 105.26%.

A number of research analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of PBF Energy from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 20th. Credit Suisse Group upped their target price on shares of PBF Energy from $46.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 5th. Citigroup upped their target price on shares of PBF Energy from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, September 7th. Goldman Sachs Group upgraded shares of PBF Energy from a “sell” rating to a “neutral” rating in a research report on Friday, September 7th. Finally, Wells Fargo & Co cut their target price on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.25.

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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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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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