AQR Capital Management LLC Trims Stock Holdings in PBF Energy Inc. $PBF

Key Points

• AQR Capital Management LLC has decreased its stake in PBF Energy Inc. by 3.6%, now holding approximately $11.98 million worth of shares, representing about 0.55% ownership.
• Several hedge funds have recently adjusted their investments in PBF Energy, with Bank of New York Mellon Corp increasing its stake by 14% and Nuveen Asset Management boosting theirs by 94.7%.
• PBF Energy's stock has experienced volatility, trading down 5.9%, and analysts have given the stock varying ratings with a consensus price target of $24.83.

AQR Capital Management LLC lessened its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 630,560 shares of the oil and gas company's stock after selling 23,533 shares during the period. AQR Capital Management LLC owned about 0.55% of PBF Energy worth $11,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PBF. VR Advisory Services Ltd grew its position in PBF Energy by 241.9% in the 1st quarter. VR Advisory Services Ltd now owns 170,945 shares of the oil and gas company's stock worth $3,263,000 after purchasing an additional 120,945 shares during the period. Royal Bank of Canada raised its holdings in PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company's stock worth $590,000 after purchasing an additional 12,025 shares during the period. Activest Wealth Management raised its holdings in PBF Energy by 199,900.0% in the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 1,999 shares during the period. Trexquant Investment LP boosted its position in shares of PBF Energy by 255.2% in the first quarter. Trexquant Investment LP now owns 319,076 shares of the oil and gas company's stock worth $6,091,000 after purchasing an additional 229,236 shares during the period. Finally, Landscape Capital Management L.L.C. increased its stake in shares of PBF Energy by 10.8% in the first quarter. Landscape Capital Management L.L.C. now owns 28,063 shares of the oil and gas company's stock worth $536,000 after purchasing an additional 2,744 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Bank of America raised their price target on PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a research report on Wednesday, September 3rd. Citigroup increased their price target on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Tudor Pickering lowered shares of PBF Energy from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Morgan Stanley boosted their price target on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $25.54.

PBF Energy Price Performance

PBF Energy stock traded up $2.69 during trading on Tuesday, reaching $30.61. The company had a trading volume of 3,637,872 shares, compared to its average volume of 3,834,323. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The firm has a market capitalization of $3.54 billion, a PE ratio of -3.56 and a beta of 0.98. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $34.31. The firm's 50-day simple moving average is $25.35 and its 200 day simple moving average is $21.58.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is presently -12.81%.

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.