Aventail Capital Group LP Raises Position in PBF Energy Inc. $PBF

Key Points

• Aventail Capital Group LP boosted its PBF Energy stake by 27.7% in the fourth quarter, ending with 255,742 shares valued at about $6.9 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 96.29% of PBF Energy’s stock, while insiders have also been actively selling shares in recent months.
• Analysts are generally cautious on the stock: the consensus rating is “Reduce” with an average price target of $36.46, even though some firms recently raised their targets.

Aventail Capital Group LP increased its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,742 shares of the oil and gas company's stock after purchasing an additional 55,417 shares during the quarter. Aventail Capital Group LP owned 0.22% of PBF Energy worth $6,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PBF. Smartleaf Asset Management LLC raised its position in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 589 shares during the period. Torren Management LLC purchased a new position in PBF Energy in the 4th quarter worth $30,000. Los Angeles Capital Management LLC purchased a new position in shares of PBF Energy in the fourth quarter valued at about $31,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of PBF Energy in the fourth quarter valued at about $57,000. Finally, Global Retirement Partners LLC increased its position in shares of PBF Energy by 3,354.7% in the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company's stock valued at $60,000 after acquiring an additional 2,147 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PBF shares. Morgan Stanley boosted their price objective on shares of PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Friday, June 12th. BMO Capital Markets boosted their price objective on shares of PBF Energy from $43.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, April 2nd. Zacks Research cut shares of PBF Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a research note on Friday, April 10th. They set a "neutral" rating and a $49.00 target price on the stock. Finally, Mizuho lifted their target price on shares of PBF Energy from $43.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, PBF Energy has an average rating of "Reduce" and an average target price of $36.46.

Insider Activity

In other news, insider Control Empresarial De Capital sold 687,500 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $49.49, for a total value of $34,024,375.00. Following the transaction, the insider owned 21,445,398 shares in the company, valued at approximately $1,061,332,747.02. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 5,136,225 shares of company stock valued at $247,811,451 in the last 90 days. Corporate insiders own 5.50% of the company's stock.

PBF Energy Trading Down 3.7%

Shares of PBF opened at $37.69 on Thursday. The firm's 50-day moving average price is $41.19 and its 200-day moving average price is $37.51. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.13 and a beta of 0.12. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a 1-year low of $20.98 and a 1-year high of $52.18.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.53) EPS. Sell-side analysts anticipate that PBF Energy Inc. will post 7.69 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, May 14th. PBF Energy's dividend payout ratio is currently 29.65%.

PBF Energy Company 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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