Bayforest Capital Ltd Boosts Stock Position in PBF Energy Inc. $PBF

Key Points

• Bayforest Capital Ltd significantly increased its stake in PBF Energy Inc. by 212.4%, owning 30,219 shares valued at $577,000.
• PBF Energy reported a quarterly earnings per share of ($1.03), surpassing estimates, despite a year-over-year revenue decrease of 14.4% to $7.48 billion.
• The company announced a quarterly dividend of $0.275 per share, reflecting an annual yield of 3.7%, while maintaining a negative payout ratio of -12.81%.

Bayforest Capital Ltd raised its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 212.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,219 shares of the oil and gas company's stock after buying an additional 20,547 shares during the quarter. Bayforest Capital Ltd's holdings in PBF Energy were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PBF Energy by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock valued at $4,996,000 after purchasing an additional 12,289 shares during the period. Caxton Associates LLP bought a new position in PBF Energy in the 1st quarter worth about $1,320,000. Voleon Capital Management LP increased its stake in PBF Energy by 20.3% in the 1st quarter. Voleon Capital Management LP now owns 29,797 shares of the oil and gas company's stock worth $569,000 after acquiring an additional 5,031 shares during the last quarter. Teza Capital Management LLC bought a new position in PBF Energy in the 1st quarter worth about $233,000. Finally, Scientech Research LLC increased its stake in PBF Energy by 51.9% in the 1st quarter. Scientech Research LLC now owns 32,525 shares of the oil and gas company's stock worth $621,000 after acquiring an additional 11,113 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Performance

PBF stock opened at $29.96 on Wednesday. The company has a market cap of $3.47 billion, a P/E ratio of -3.49 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The stock's fifty day moving average price is $24.93 and its 200-day moving average price is $21.36. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.31.

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

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.7%. PBF Energy's dividend payout ratio is -12.81%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PBF shares. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Piper Sandler restated an "underweight" rating and set a $22.00 target price (up from $21.00) on shares of PBF Energy in a report on Monday, August 4th. Bank of America increased their target price on PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a report on Wednesday, September 3rd. Mizuho increased their target price on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Finally, Citigroup increased their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, PBF Energy currently has an average rating of "Reduce" and a consensus target price of $24.83.

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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