Wells Fargo & Company MN cut its stake in shares of PBF Energy Inc (NYSE:PBF) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 278,563 shares of the oil and gas company’s stock after selling 3,382 shares during the period. Wells Fargo & Company MN owned approximately 0.24% of PBF Energy worth $13,903,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp increased 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 purchasing an additional 1,850,884 shares during the period. OppenheimerFunds Inc. increased its position in PBF Energy by 408.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,026,916 shares of the oil and gas company’s stock worth $43,059,000 after purchasing an additional 824,871 shares during the period. Hennessy Advisors Inc. increased its position in PBF Energy by 579.1% during the 3rd quarter. Hennessy Advisors Inc. now owns 520,900 shares of the oil and gas company’s stock worth $25,998,000 after purchasing an additional 444,200 shares during the period. Scout Investments Inc. acquired a new position in PBF Energy during the 3rd quarter worth approximately $18,569,000. Finally, First Quadrant L P CA acquired a new position in PBF Energy during the 3rd quarter worth approximately $17,779,000. 93.18% of the stock is owned by hedge funds and other institutional investors.
PBF has been the topic of several recent analyst reports. Credit Suisse Group boosted their target price on PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 5th. Wells Fargo & Co dropped their target price on PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating in a research report on Friday, September 7th. Morgan Stanley set a $54.00 target price on PBF Energy and gave the stock a “sell” rating in a research report on Friday, October 12th. Finally, Citigroup boosted their target price on PBF Energy from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. PBF Energy presently has an average rating of “Hold” and a consensus price target of $45.25.
PBF opened at $33.75 on Friday. The company has a market capitalization of $4.22 billion, a P/E ratio of 29.61, a PEG ratio of 0.78 and a beta of 1.46. 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.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.21 billion. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The company’s revenue was up 39.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. As a group, equities research analysts forecast that PBF Energy Inc will post 2.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, November 14th. PBF Energy’s dividend payout ratio is currently 105.26%.
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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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