Brandywine Global Investment Management LLC Increases Holdings in PBF Energy Inc. $PBF

Brandywine Global Investment Management LLC increased its position in PBF Energy Inc. (NYSE:PBF) by 351.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,493 shares of the oil and gas company’s stock after buying an additional 206,666 shares during the quarter. Brandywine Global Investment Management LLC owned 0.23% of PBF Energy worth $7,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $40.31 on Wednesday. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. The company has a 50-day moving average price of $41.96 and a 200-day moving average price of $37.25. 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 Inc. has a 12 month low of $19.47 and a 12 month high of $52.18.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the prior year, the company posted ($3.53) earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that PBF Energy Inc. will post 6.7 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insider Activity

In related news, insider Control Empresarial De Capital sold 1,100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the completion of the transaction, the insider owned 22,996,898 shares in the company, valued at $1,062,686,656.58. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 7,582,425 shares of company stock worth $358,083,629 over the last 90 days. 5.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler raised their price objective on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. BMO Capital Markets increased their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Citigroup boosted their price objective on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $36.15.

PBF Energy Company 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.