Callan Family Office LLC Purchases New Position in PBF Energy Inc. $PBF

Key Points

• Callan Family Office LLC acquired a new position in PBF Energy Inc. by purchasing 10,230 shares valued at approximately $222,000 in the second quarter.
• Several institutional investors, including GAMMA Investing LLC and Fifth Third Bancorp, have significantly increased their stakes in PBF Energy, indicating strong investor interest in the company.
• PBF Energy reported a quarterly revenue of $7.48 billion, beating expectations, despite a year-over-year revenue decline of 14.4% and a negative earnings per share of ($1.03).

Callan Family Office LLC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,230 shares of the oil and gas company's stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PBF. GAMMA Investing LLC increased its position in shares of PBF Energy by 2,703.0% during the first quarter. GAMMA Investing LLC now owns 22,144 shares of the oil and gas company's stock valued at $423,000 after buying an additional 21,354 shares during the period. Yousif Capital Management LLC increased its position in shares of PBF Energy by 3.8% during the first quarter. Yousif Capital Management LLC now owns 42,404 shares of the oil and gas company's stock valued at $809,000 after buying an additional 1,568 shares during the period. Fifth Third Bancorp increased its position 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 buying an additional 803 shares during the period. Golden State Wealth Management LLC increased its position in shares of PBF Energy by 188.0% during the first quarter. Golden State Wealth Management LLC now owns 6,624 shares of the oil and gas company's stock valued at $126,000 after buying an additional 4,324 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of PBF Energy during the first quarter valued at about $242,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Activity at PBF Energy

In other PBF Energy news, SVP Trecia M. Canty sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the sale, the senior vice president directly owned 173,332 shares of the company's stock, valued at approximately $5,915,821.16. This represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Connor Thomas L. O sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president directly owned 207,984 shares of the company's stock, valued at approximately $7,071,456. This represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PBF. Citigroup boosted their price objective 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. Scotiabank boosted their price objective on shares of PBF Energy from $25.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 9th. Morgan Stanley set a $27.00 price objective on shares of PBF Energy and gave the stock an "underweight" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "sell (d+)" rating on shares of PBF Energy in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and eight have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $26.17.

PBF Energy Stock Up 1.1%

PBF opened at $28.77 on Friday. 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 firm has a 50 day moving average price of $27.98 and a 200-day moving average price of $23.14. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $34.29. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -3.35 and a beta of 0.85.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $6.65 billion. During the same period in the previous year, the company earned ($0.54) earnings per share. The firm's quarterly revenue was down 14.4% on a year-over-year basis. Equities research 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. Stockholders of record on Thursday, August 14th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's payout ratio is presently -12.81%.

About PBF Energy

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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