Bayforest Capital Ltd Increases Stock Position in 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 increased its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 212.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,219 shares of the oil and gas company's stock after purchasing an additional 20,547 shares during the quarter. Bayforest Capital Ltd's holdings in PBF Energy were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 803 shares in the last quarter. Allworth Financial LP grew its position in shares of PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,090 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of PBF Energy during the 1st quarter valued at about $37,000. Parallel Advisors LLC grew its holdings in shares of PBF Energy by 80.4% in the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock valued at $46,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in PBF Energy by 783.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company's stock valued at $84,000 after purchasing an additional 2,804 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the acquisition, the insider directly owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This represents a 0.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.70% of the company's stock.

PBF Energy Trading Up 6.6%

Shares of PBF traded up $1.44 during midday trading on Monday, reaching $23.12. The company had a trading volume of 2,029,734 shares, compared to its average volume of 3,150,126. The firm has a 50 day simple moving average of $22.71 and a 200-day simple moving average of $21.86. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $37.99. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.67 billion, a PE ratio of -2.69 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share 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 firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm earned ($0.54) EPS. The firm's revenue for the quarter was down 14.4% on a year-over-year basis. Research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Thursday, August 14th. PBF Energy's dividend payout ratio is presently -12.81%.

Wall Street Analyst Weigh In

PBF has been the subject of several recent analyst reports. Scotiabank restated a "sector perform" rating and set a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Piper Sandler lifted their target price on PBF Energy from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Citigroup raised their price target on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $25.17.

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.