Bayforest Capital Ltd Has $577,000 Stock Holdings 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 increased its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 212.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

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

PBF Energy Trading Up 1.5%

Shares of NYSE PBF traded up $0.42 during midday trading on Monday, reaching $27.87. 1,299,564 shares of the stock were exchanged, compared to its average volume of 3,226,558. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -3.24 and a beta of 0.97. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.31. The business has a 50-day simple moving average of $25.18 and a two-hundred day simple moving average of $21.47. 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 posted 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 net margin of 3.24% and a negative return on equity of 17.46%. The business had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.65 billion. During the same period in the previous year, the firm posted ($0.54) EPS. The firm's revenue was down 14.4% compared to the same quarter last year. As a group, equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, August 14th. This represents a $1.10 annualized dividend and a yield of 3.9%. PBF Energy's payout ratio is -12.81%.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of recent research reports. Piper Sandler increased their price objective on PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a research report on Thursday. Morgan Stanley increased their price objective on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Bank of America boosted their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a research note on Wednesday, September 3rd. Citigroup boosted their target price 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. Finally, Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 target price on the stock. in a research note on Monday. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $25.54.

PBF Energy Company 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.