Allspring Global Investments Holdings LLC Buys 148,124 Shares of PBF Energy Inc. $PBF

Allspring Global Investments Holdings LLC boosted its stake in shares of PBF Energy Inc. (NYSE:PBF) by 361.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 189,148 shares of the oil and gas company’s stock after buying an additional 148,124 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PBF Energy were worth $8,718,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after buying an additional 3,550,820 shares during the period. Invesco Ltd. lifted its stake in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares during the period. AQR Capital Management LLC boosted its holdings in PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after acquiring an additional 1,454,500 shares during the last quarter. Norges Bank bought a new stake in PBF Energy in the fourth quarter valued at approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after purchasing an additional 1,159,628 shares during the period. Institutional investors own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the sale, the insider owned 17,142,128 shares of the company’s stock, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 3,541,570 shares of company stock valued at $165,787,386 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

PBF Energy Trading Down 2.6%

PBF opened at $64.31 on Thursday. The company has a fifty day moving average price of $45.86 and a two-hundred day moving average price of $41.26. PBF Energy Inc. has a 1-year low of $21.24 and a 1-year high of $68.33. The company has a market cap of $7.61 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.17 and a beta of 0.11. 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 released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned ($3.53) EPS. Analysts predict that PBF Energy Inc. will post 9.76 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company 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 was Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 1.7%. PBF Energy’s dividend payout ratio is presently 29.65%.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of analyst reports. Mizuho upped their price objective on shares of PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Morgan Stanley boosted their target price on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. Scotiabank upped their price target on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Citigroup increased their price target on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, TD Cowen lifted their price objective on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $42.23.

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.