AlphaQuest LLC Purchases New Position in PBF Energy Inc. $PBF

Key Points

• AlphaQuest LLC has acquired a new stake in PBF Energy Inc., purchasing 11,258 shares valued at approximately $215,000 during the first quarter.
• Hedge funds and institutional investors hold nearly 96.29% of PBF Energy's stock, with various firms significantly increasing their positions in the company.
• PBF Energy recently declared a quarterly dividend of $0.275 per share, representing an annual yield of 4.0%, although the dividend payout ratio is currently negative.

AlphaQuest LLC bought a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,258 shares of the oil and gas company's stock, valued at approximately $215,000.

Several other institutional investors have also made changes to their positions in PBF. Northern Trust Corp boosted its stake in shares of PBF Energy by 3.8% in the fourth quarter. Northern Trust Corp now owns 1,378,956 shares of the oil and gas company's stock valued at $36,611,000 after buying an additional 50,541 shares during the period. AQR Capital Management LLC lifted its stake in PBF Energy by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 654,093 shares of the oil and gas company's stock worth $17,144,000 after purchasing an additional 140,804 shares during the last quarter. Bayesian Capital Management LP bought a new stake in PBF Energy during the fourth quarter worth $332,000. Cetera Investment Advisers lifted its stake in PBF Energy by 60.8% during the fourth quarter. Cetera Investment Advisers now owns 37,281 shares of the oil and gas company's stock worth $990,000 after purchasing an additional 14,098 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in PBF Energy by 18.9% during the fourth quarter. Janus Henderson Group PLC now owns 694,115 shares of the oil and gas company's stock worth $18,430,000 after purchasing an additional 110,437 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PBF. Piper Sandler reiterated an "underweight" rating and set a $22.00 price target (up from $21.00) on shares of PBF Energy in a report on Monday, August 4th. Bank of America upped their price target on shares of PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a report on Wednesday. Mizuho upped their price target on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Scotiabank reiterated a "sector perform" rating and set a $25.00 price target (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $24.83.

PBF Energy Trading Up 2.4%

NYSE PBF traded up $0.66 on Thursday, reaching $28.51. The company had a trading volume of 1,455,578 shares, compared to its average volume of 3,198,682. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -3.32 and a beta of 0.98. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $34.31. The business has a 50 day moving average of $24.38 and a two-hundred day moving average of $21.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the business posted ($0.54) EPS. The business's revenue was down 14.4% compared to the same quarter last year. Analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.10 annualized dividend and a yield of 3.9%. PBF Energy's dividend payout ratio (DPR) is presently -12.81%.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.