15,620 Shares in PBF Energy Inc. $PBF Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 15,620 PBF Energy shares in the third quarter, valued at about $1.2 million. Institutional investors collectively own 96.29% of the company.
• PBF Energy reported quarterly EPS of $12.78, beating the $11.12 consensus estimate, while revenue of $12.13 billion exceeded expectations and rose 58.6% year over year.
• The company raised its quarterly dividend from $0.275 to $0.325 per share. Analysts’ consensus rating was “Hold,” with a $70.50 average price target.

Mirae Asset Global Investments Co. Ltd. bought a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,620 shares of the oil and gas company's stock, valued at approximately $1,202,000.

A number of other large investors also recently made changes to their positions in the company. Profund Advisors LLC acquired a new stake in PBF Energy during the 3rd quarter worth approximately $289,000. Parcion Private Wealth LLC boosted its stake in PBF Energy by 14.2% in the 3rd quarter. Parcion Private Wealth LLC now owns 5,178 shares of the oil and gas company's stock valued at $398,000 after purchasing an additional 642 shares during the period. Choreo LLC acquired a new position in PBF Energy in the 3rd quarter valued at $281,000. Sage Rhino Capital LLC acquired a new position in PBF Energy in the 3rd quarter valued at $222,000. Finally, VestGen Advisors LLC acquired a new position in PBF Energy in the 3rd quarter valued at $333,000. Institutional investors own 96.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup increased their price objective on PBF Energy from $74.00 to $91.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 6th. The Goldman Sachs Group upped their price target on shares of PBF Energy from $81.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, October 9th. Mizuho upped their price target on shares of PBF Energy from $65.00 to $89.00 and gave the company a "neutral" rating in a research note on Thursday, October 8th. UBS Group reaffirmed a "buy" rating and set a $99.00 price target on shares of PBF Energy in a research report on Monday, October 5th. Finally, TD Cowen lifted their price objective on shares of PBF Energy from $73.00 to $75.00 and gave the stock a "hold" rating in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, PBF Energy currently has a consensus rating of "Hold" and a consensus price target of $70.50.

PBF Energy Trading Down 0.0%

Shares of NYSE:PBF opened at $67.25 on Monday. The company has a market capitalization of $8.16 billion, a P/E ratio of 3.00, a P/E/G ratio of 0.07 and a beta of 0.15. PBF Energy Inc. has a 1 year low of $25.62 and a 1 year high of $92.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.59 and a quick ratio of 0.96. The business's 50 day simple moving average is $77.62 and its 200 day simple moving average is $54.52.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, beating the consensus estimate of $11.12 by $1.66. The firm had revenue of $12.13 billion during the quarter, compared to analysts' expectations of $10.60 billion. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The company's quarterly revenue was up 58.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.52) EPS. On average, research analysts anticipate that PBF Energy Inc. will post 26.78 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Thursday, November 12th will be given a $0.3250 dividend. The ex-dividend date is Thursday, November 12th. This is an increase from PBF Energy's previous quarterly dividend of $0.2750. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.9%. PBF Energy's dividend payout ratio (DPR) is 4.91%.

Insider Buying and Selling

In related news, SVP Trecia Canty sold 140,320 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $71.00, for a total value of $9,962,720.00. Following the completion of the transaction, the senior vice president owned 191,779 shares of the company's stock, valued at $13,616,309. The trade was a 42.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Nimbley sold 260,063 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $67.84, for a total value of $17,642,673.92. Following the completion of the transaction, the director directly owned 793,737 shares of the company's stock, valued at approximately $53,847,118.08. This trade represents a 24.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,864,531 shares of company stock worth $214,420,159 over the last three months. Company insiders own 5.50% of the company's stock.

About PBF Energy

PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast.

PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.

The company also has logistics operations that support the movement and storage of crude oil and refined products through pipelines, terminals and related infrastructure.

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