Fifth Third Bancorp Raises Holdings in PBF Energy Inc. $PBF

Fifth Third Bancorp increased its holdings in PBF Energy Inc. (NYSE:PBF) by 2,197.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,114 shares of the oil and gas company’s stock after buying an additional 30,716 shares during the period. Fifth Third Bancorp’s holdings in PBF Energy were worth $1,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in PBF Energy by 63.6% during the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after acquiring an additional 12,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after acquiring an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PBF Energy by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after purchasing an additional 12,289 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in PBF Energy during the second quarter valued at about $1,143,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of PBF stock opened at $61.83 on Friday. PBF Energy Inc. has a fifty-two week low of $21.24 and a fifty-two week high of $68.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.15 and a beta of 0.11. The stock’s 50-day simple moving average is $46.28 and its 200-day simple moving average is $41.49.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($3.53) earnings per share. As a group, equities analysts forecast that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. TD Cowen increased their price target on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday. Zacks Research downgraded shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Scotiabank boosted their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets boosted their price objective on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $43.92.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction on Friday, July 10th. The shares were sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the completion of the sale, the insider directly owned 15,712,128 shares in the company, valued at approximately $856,625,218.56. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 3,541,570 shares of company stock worth $165,787,386 in the last three months. Insiders own 5.50% of the company’s stock.

PBF Energy Profile

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.