Dockside LLC Takes $503,000 Position in PBF Energy Inc. $PBF

Dockside LLC acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 18,556 shares of the oil and gas company’s stock, valued at approximately $503,000.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of PBF Energy by 24.6% during the 4th quarter. Barclays PLC now owns 362,977 shares of the oil and gas company’s stock valued at $9,844,000 after buying an additional 71,591 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of PBF Energy by 72.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,084,900 shares of the oil and gas company’s stock valued at $56,542,000 after buying an additional 872,532 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of PBF Energy during the 4th quarter valued at about $87,000. CANADA LIFE ASSURANCE Co lifted its position in shares of PBF Energy by 1.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 59,519 shares of the oil and gas company’s stock valued at $1,615,000 after buying an additional 722 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of PBF Energy by 12.7% during the 4th quarter. Stifel Financial Corp now owns 12,126 shares of the oil and gas company’s stock valued at $329,000 after buying an additional 1,364 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Stock Down 0.2%

Shares of PBF opened at $41.81 on Monday. The business’s 50 day moving average is $41.59 and its 200 day moving average is $37.40. The company has a market capitalization of $4.95 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.15 and a beta of 0.12. PBF Energy Inc. has a 12-month low of $20.61 and a 12-month high of $52.18. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted ($3.53) EPS. Research analysts expect that PBF Energy Inc. will post 6.91 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is 29.65%.

Insider Activity at PBF Energy

In other PBF Energy news, SVP James E. Fedena sold 77,085 shares of PBF Energy stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total value of $3,823,416.00. Following the sale, the senior vice president owned 139,016 shares of the company’s stock, valued at $6,895,193.60. The trade was a 35.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $43.17, for a total value of $4,317,000.00. Following the completion of the sale, the insider directly owned 18,117,698 shares in the company, valued at approximately $782,141,022.66. The trade was a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,888,225 shares of company stock worth $327,909,811 in the last three months. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Zacks Research cut PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Morgan Stanley lifted their price objective on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday. Mizuho lifted their price objective on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $36.46.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.