Great West Life Assurance Co. Can boosted its stake in PBF Energy Inc (NYSE:PBF) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,199 shares of the oil and gas company’s stock after purchasing an additional 35,526 shares during the quarter. Great West Life Assurance Co. Can owned about 0.12% of PBF Energy worth $4,695,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in PBF Energy by 10.0% in the third quarter. Vanguard Group Inc. now owns 12,336,119 shares of the oil and gas company’s stock valued at $615,695,000 after purchasing an additional 1,121,082 shares during the last quarter. Vanguard Group Inc increased its holdings in PBF Energy by 10.0% in the third quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock valued at $615,695,000 after purchasing an additional 1,121,082 shares during the last quarter. BlackRock Inc. increased its holdings in PBF Energy by 4.4% in the fourth quarter. BlackRock Inc. now owns 10,843,930 shares of the oil and gas company’s stock valued at $354,272,000 after purchasing an additional 458,745 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PBF Energy by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 7,753,130 shares of the oil and gas company’s stock valued at $386,962,000 after purchasing an additional 210,335 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in PBF Energy by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 4,213,274 shares of the oil and gas company’s stock valued at $210,284,000 after purchasing an additional 209,854 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.
In other PBF Energy news, CEO Thomas J. Nimbley bought 25,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was purchased at an average cost of $30.03 per share, with a total value of $750,750.00. Following the completion of the purchase, the chief executive officer now owns 365,990 shares in the company, valued at $10,990,679.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by insiders.
NYSE:PBF opened at $32.56 on Friday. PBF Energy Inc has a 1 year low of $28.66 and a 1 year high of $53.91. The company has a quick ratio of 0.64, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 14th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. PBF Energy had a return on equity of 11.96% and a net margin of 0.47%. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that PBF Energy Inc will post 2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 28th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. PBF Energy’s payout ratio is 36.81%.
A number of equities research analysts recently commented on the company. ValuEngine downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Tudor Pickering downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Friday, February 8th. TheStreet downgraded PBF Energy from a “b” rating to a “c+” rating in a report on Friday, February 15th. Morgan Stanley dropped their price objective on PBF Energy from $54.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, November 20th. Finally, Credit Suisse Group decreased their target price on PBF Energy from $51.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, January 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $48.40.
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PBF Energy Company Profile
PBF Energy Inc, together with 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.
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