179,070 Shares in PBF Energy Inc. $PBF Bought by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management opened a new position in PBF Energy, buying 179,070 shares valued at about $8.53 million in the first quarter. The stake represented 0.15% of the company at the end of the reporting period.
• Analysts remain cautious on the stock overall: PBF Energy has a consensus rating of “Reduce” with an average price target of $36.69, even after several firms raised their targets or upgraded ratings.
• PBF Energy reported quarterly revenue of $7.90 billion, beating expectations, but earnings per share came in below estimates at ($0.88). The company also paid a quarterly dividend of $0.275 per share, implying an annualized yield of 1.9%.

Hillsdale Investment Management Inc. purchased a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 179,070 shares of the oil and gas company's stock, valued at approximately $8,527,000. Hillsdale Investment Management Inc. owned 0.15% of PBF Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC increased its holdings in shares of PBF Energy by 3.4% in the 4th quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company's stock valued at $268,000 after acquiring an additional 325 shares during the last quarter. Next Level Private LLC lifted its stake in PBF Energy by 0.6% during the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company's stock worth $1,808,000 after purchasing an additional 378 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company's stock worth $375,000 after purchasing an additional 383 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PBF Energy by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company's stock valued at $863,000 after purchasing an additional 432 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in PBF Energy by 3.2% in the first quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the oil and gas company's stock valued at $682,000 after purchasing an additional 441 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Friday, June 12th. The Goldman Sachs Group began coverage on shares of PBF Energy in a report on Friday, April 10th. They issued a "neutral" rating and a $49.00 target price for the company. Scotiabank increased their target price 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. Freedom Capital raised shares of PBF Energy to a "hold" rating in a research report on Tuesday, July 7th. Finally, TD Cowen upgraded PBF Energy from a "sell" rating to a "hold" rating and lifted their target price for the stock from $36.00 to $39.00 in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $36.69.

PBF Energy Stock Up 7.8%

PBF stock opened at $57.31 on Tuesday. The company has a fifty day moving average price of $43.01 and a 200 day moving average price of $39.49. PBF Energy Inc. has a 12 month low of $21.24 and a 12 month high of $58.07. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted ($3.53) earnings per share. Sell-side analysts expect that PBF Energy Inc. will post 8.26 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy's payout ratio is currently 29.65%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the transaction, the insider directly owned 17,142,128 shares of the company's stock, valued at approximately $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 3,441,570 shares of company stock worth $160,335,386. Insiders own 5.50% of the company's stock.

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.

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