22,764 Shares in PBF Energy Inc. $PBF Purchased by Range Financial Group LLC

Key Points

• Range Financial Group acquired 22,764 shares of PBF Energy valued at approximately $1.75 million, while institutional investors collectively own 96.29% of the company.
• PBF Energy reported strong quarterly results, with $6.22 in earnings per share and $11.68 billion in revenue, exceeding analyst expectations and reflecting 56.2% year-over-year revenue growth.
• PBF shares opened at $83.03, up 2.2%, although the stock’s consensus analyst rating remains “Hold” with a $65.55 price target; the company also pays a quarterly dividend of $0.275 per share.

Range Financial Group LLC acquired a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,764 shares of the oil and gas company's stock, valued at approximately $1,752,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in shares of PBF Energy in the first quarter worth $33,000. Mather Group LLC. acquired a new position in PBF Energy in the third quarter valued at about $37,000. IFP Advisors Inc raised its stake in PBF Energy by 68.7% in the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company's stock valued at $66,000 after purchasing an additional 591 shares in the last quarter. Strs Ohio bought a new stake in PBF Energy during the first quarter worth about $143,000. Finally, Nykredit A S bought a new stake in PBF Energy during the second quarter worth about $149,000. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Stock Up 2.2%

PBF stock opened at $83.03 on Wednesday. The firm has a 50-day moving average price of $76.71 and a 200-day moving average price of $57.81. PBF Energy Inc. has a 12 month low of $25.62 and a 12 month high of $92.46. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $9.84 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business had revenue of $11.68 billion during the quarter, compared to analysts' expectations of $9.61 billion. During the same period in the prior year, the company earned ($1.03) EPS. The firm's quarterly revenue was up 56.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PBF Energy Inc. will post 24.69 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.2750 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. PBF Energy's dividend payout ratio (DPR) is 9.73%.

Insiders Place Their Bets

In other news, Director Thomas J. Nimbley sold 116,008 shares of PBF Energy stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the sale, the director directly owned 793,737 shares of the company's stock, valued at approximately $58,522,229.01. This trade represents a 12.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital sold 170,000 shares of PBF Energy stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $88.03, for a total value of $14,965,100.00. Following the sale, the insider directly owned 13,326,127 shares in the company, valued at $1,173,098,959.81. The trade was a 1.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,146,374 shares of company stock worth $304,686,537 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reiterated a "market perform" rating on shares of PBF Energy in a research note on Thursday, October 1st. TD Cowen restated a "hold" rating on shares of PBF Energy in a research report on Thursday, October 1st. UBS Group reaffirmed a "buy" rating and set a $99.00 price target on shares of PBF Energy in a report on Monday, October 5th. Evercore initiated coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 price target on the stock. Finally, Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $65.55.

PBF Energy Company Profile

PBF Energy Inc NYSE: PBF is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.

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