BlackRock Inc. increased its stake in PBF Energy Inc (NYSE:PBF) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,948,546 shares of the oil and gas company’s stock after purchasing an additional 104,616 shares during the quarter. BlackRock Inc. owned approximately 9.14% of PBF Energy worth $340,937,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Retirement Systems of Alabama raised its holdings in PBF Energy by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 156,009 shares of the oil and gas company’s stock valued at $4,858,000 after acquiring an additional 565 shares during the period. American International Group Inc. raised its holdings in PBF Energy by 0.3% during the 4th quarter. American International Group Inc. now owns 244,370 shares of the oil and gas company’s stock valued at $7,984,000 after acquiring an additional 789 shares during the period. Mason Street Advisors LLC raised its holdings in PBF Energy by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 63,731 shares of the oil and gas company’s stock valued at $1,985,000 after acquiring an additional 932 shares during the period. Strs Ohio raised its holdings in PBF Energy by 21.7% during the 4th quarter. Strs Ohio now owns 7,881 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 1,406 shares during the period. Finally, Royce & Associates LP raised its holdings in PBF Energy by 2.0% during the 1st quarter. Royce & Associates LP now owns 75,354 shares of the oil and gas company’s stock valued at $2,347,000 after acquiring an additional 1,444 shares during the period. 89.07% of the stock is currently owned by institutional investors.
In related news, insider Carso S.A. De C.V. Inversora bought 1,609,796 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average cost of $28.95 per share, for a total transaction of $46,603,594.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the stock. TheStreet cut shares of PBF Energy from a “b” rating to a “c+” rating in a report on Friday, February 15th. ValuEngine cut shares of PBF Energy from a “sell” rating to a “strong sell” rating in a report on Friday, June 7th. Morgan Stanley set a $42.00 price target on shares of PBF Energy and gave the stock a “buy” rating in a report on Friday, May 17th. Credit Suisse Group raised shares of PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Wednesday, May 15th. Finally, Raymond James decreased their price target on shares of PBF Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.33.
PBF Energy stock opened at $24.40 on Thursday. The firm has a market capitalization of $2.97 billion, a PE ratio of 7.48, a PEG ratio of 1.38 and a beta of 1.51. PBF Energy Inc has a fifty-two week low of $23.84 and a fifty-two week high of $53.91. The company has a current ratio of 1.53, a quick ratio of 0.54 and a debt-to-equity ratio of 0.68.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.23). The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.29 billion. PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) EPS. As a group, sell-side analysts anticipate that PBF Energy Inc will post 1.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th were issued a $0.30 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 4.92%. PBF Energy’s payout ratio is currently 36.81%.
PBF Energy Profile
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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