American Century Companies Inc. Grows 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. increased its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,897,910 shares of the oil and gas company's stock after acquiring an additional 32,285 shares during the quarter. American Century Companies Inc. owned approximately 1.65% of PBF Energy worth $36,231,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PBF. LPL Financial LLC increased its holdings in shares of PBF Energy by 3.2% in the 4th quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock valued at $632,000 after acquiring an additional 748 shares during the period. Wells Fargo & Company MN increased its holdings in shares of PBF Energy by 19.4% in the 4th quarter. Wells Fargo & Company MN now owns 111,288 shares of the oil and gas company's stock valued at $2,955,000 after acquiring an additional 18,097 shares during the period. Raymond James Financial Inc. acquired a new position in shares of PBF Energy in the 4th quarter valued at $1,654,000. Sterling Capital Management LLC increased its holdings in shares of PBF Energy by 783.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company's stock valued at $84,000 after acquiring an additional 2,804 shares during the period. Finally, Barclays PLC increased its stake in PBF Energy by 27.1% in the 4th quarter. Barclays PLC now owns 275,338 shares of the oil and gas company's stock valued at $7,309,000 after buying an additional 58,691 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.70% of the stock is owned by corporate insiders.

PBF Energy Price Performance

Shares of NYSE PBF traded down $0.82 during trading on Tuesday, hitting $24.94. 4,906,561 shares of the company were exchanged, compared to its average volume of 3,786,460. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -2.90 and a beta of 0.92. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.49. The firm's fifty day moving average price is $23.80 and its 200 day moving average price is $21.15. 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 earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate 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 company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the previous year, the firm earned ($0.54) EPS. The business's revenue was down 14.4% on a year-over-year basis. On average, sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a $0.275 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 4.4%. PBF Energy's payout ratio is currently -12.81%.

Analysts Set New Price Targets

PBF has been the topic of several recent research reports. Citigroup boosted their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Scotiabank reissued a "sector perform" rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note 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 note on Tuesday, July 15th. Finally, Morgan Stanley boosted their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of "Reduce" and an average price target of $25.17.

About PBF Energy

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.