Bayforest Capital Ltd Buys 20,547 Shares of PBF Energy Inc. (NYSE:PBF)

Key Points

• Bayforest Capital Ltd increased its stake in PBF Energy by 212.4% in Q1, holding 30,219 shares valued at $577,000 as of the last reporting period.
• PBF Energy reported a net loss of ($3.09) EPS for the latest quarter, surpassing expectations but showing an 18.3% year-over-year decline in revenue.
• The company recently announced a quarterly dividend of $0.275 per share, with an annual yield of 4.46%.

Bayforest Capital Ltd raised its stake in shares of 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 & Exchange Commission. The fund owned 30,219 shares of the oil and gas company's stock after purchasing an additional 20,547 shares during the period. Bayforest Capital Ltd's holdings in PBF Energy were worth $577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its position in PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after purchasing an additional 1,272,254 shares during the period. Norges Bank bought a new position in PBF Energy in the fourth quarter worth $20,896,000. Recurrent Investment Advisors LLC lifted its position in PBF Energy by 154.0% in the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock worth $25,096,000 after purchasing an additional 573,161 shares during the period. JPMorgan Chase & Co. lifted its position in PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock worth $39,628,000 after purchasing an additional 562,287 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in PBF Energy by 94.7% in the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after purchasing an additional 276,672 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

PBF has been the subject of a number of analyst reports. Scotiabank reissued a "sector perform" rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Wells Fargo & Company lifted their price objective on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley lifted their price objective on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Piper Sandler lifted their price objective on PBF Energy from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Tuesday, July 22nd. Finally, Mizuho lifted their price objective on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $25.08.

Insider Activity

In related news, insider Control Empresarial De Capital bought 48,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the transaction, the insider owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company's stock.

PBF Energy Trading Down 4.0%

PBF stock traded down $0.91 during midday trading on Friday, reaching $21.69. The stock had a trading volume of 4,210,877 shares, compared to its average volume of 3,214,817. The business has a fifty day simple moving average of $22.71 and a two-hundred day simple moving average of $21.99. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -2.53 and a beta of 0.92. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $38.44.

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, topping analysts' consensus estimates of ($1.19) by $0.16. The firm had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative return on equity of 17.13% and a negative net margin of 3.24%. The company's revenue was down 14.4% on a year-over-year basis. During the same period last year, the company earned ($0.54) earnings per share. As a group, research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, August 14th. PBF Energy's payout ratio is presently -12.09%.

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.