American Century Companies Inc. Has $36.23 Million Stock Position in PBF Energy Inc. $PBF

Key Points

• American Century Companies Inc. increased its stake in PBF Energy Inc. by 1.7%, now owning approximately 1.65% of the company valued at $36.23 million.
• A variety of institutional investors have significantly increased their investments in PBF Energy, with T. Rowe Price raising its stake by 150.7% and Deutsche Bank raising its position by 697.2% in recent quarters.
• PBF Energy reported a quarterly revenue of $7.48 billion, beating expectations, but had a negative earnings per share of ($1.03) for the quarter.

American Century Companies Inc. lifted its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,897,910 shares of the oil and gas company's stock after acquiring an additional 32,285 shares during the period. American Century Companies Inc. owned about 1.65% of PBF Energy worth $36,231,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake in PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock valued at $56,191,000 after purchasing an additional 1,272,254 shares during the period. Nuveen LLC purchased a new position in shares of PBF Energy during the first quarter valued at $13,600,000. Deutsche Bank AG raised its position in PBF Energy by 697.2% during the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after buying an additional 686,103 shares during the period. Recurrent Investment Advisors LLC lifted its stake in PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock worth $25,096,000 after acquiring an additional 573,161 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in PBF Energy by 94.7% during the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after acquiring an additional 276,672 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Scotiabank reiterated a "sector perform" rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Wells Fargo & Company boosted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Mizuho increased their target price on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley boosted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $25.17.

PBF Energy Price Performance

NYSE PBF opened at $23.7040 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.74 billion, a PE ratio of -2.76 and a beta of 0.92. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $34.80. The company has a 50 day moving average price of $23.64 and a two-hundred day moving average price of $21.32.

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

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.6%. PBF Energy's payout ratio is currently -12.81%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 48,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the acquisition, the insider owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.30% of the company's stock.

PBF Energy 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.

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