Amundi Takes $1.57 Million Position in PBF Energy Inc. $PBF

Key Points

• Amundi purchased 33,051 shares of PBF Energy in the first quarter, establishing a new position valued at approximately $1.57 million. Institutional investors collectively own 96.29% of the company.
• PBF Energy reported strong quarterly results, with earnings of $6.22 per share versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year.
• Analyst sentiment remains mixed: the consensus rating is “Reduce” with a $50.15 price target, while recent targets ranged from $38 to $84. Insiders also sold roughly $235.4 million worth of shares during the last quarter.

Amundi purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,051 shares of the oil and gas company's stock, valued at approximately $1,574,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Torren Management LLC bought a new position in PBF Energy in the 4th quarter worth $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy in the fourth quarter worth about $31,000. Leonteq Securities AG bought a new position in PBF Energy in the first quarter worth about $33,000. Smartleaf Asset Management LLC raised its stake in PBF Energy by 65.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company's stock worth $38,000 after buying an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in PBF Energy in the fourth quarter worth about $57,000. Institutional investors own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of PBF Energy from $62.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday. The Goldman Sachs Group upped their price target on PBF Energy from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Wall Street Zen raised PBF Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Morgan Stanley raised their price objective on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Friday, June 12th. Finally, Evercore began coverage on PBF Energy in a report on Friday, July 17th. They issued an "in-line" rating and a $58.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $50.15.

PBF Energy Stock Up 0.7%

Shares of NYSE:PBF opened at $61.68 on Friday. The firm has a market capitalization of $7.30 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 0.07 and a beta of 0.10. The business has a 50 day simple moving average of $51.60 and a two-hundred day simple moving average of $44.02. PBF Energy Inc. has a 1 year low of $21.46 and a 1 year high of $74.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the business posted ($1.03) earnings per share. The company's revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities analysts predict that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 14th. PBF Energy's dividend payout ratio is currently 9.73%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, CEO Matthew C. Lucey sold 225,473 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the sale, the chief executive officer directly owned 495,771 shares in the company, valued at approximately $35,655,850.32. This represents a 31.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Nimbley sold 468,139 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the transaction, the director owned 793,737 shares in the company, valued at approximately $55,196,470.98. The trade was a 37.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,260,935 shares of company stock worth $235,363,946 over the last quarter. Insiders own 5.50% of the company's stock.

PBF Energy Profile

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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