Caxton Associates LLP Makes New Investment in PBF Energy Inc. $PBF

Key Points

• Caxton Associates LLP acquired a new position in PBF Energy, purchasing 69,144 shares valued at approximately $1.32 million, representing about 0.06% ownership of the company.
• PBF Energy shares have received varied analyst ratings, with UBS Group upgrading the stock to a "buy" and raising the price target from $20 to $26, while Citigroup set a target price of $29.
• The company declared a quarterly dividend of $0.275 per share, resulting in an annualized dividend yield of 3.7% amidst a challenging financial environment marked by a reported negative earnings per share of ($1.03).

Caxton Associates LLP purchased a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 69,144 shares of the oil and gas company's stock, valued at approximately $1,320,000. Caxton Associates LLP owned about 0.06% of PBF Energy at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PBF. T. Rowe Price Investment Management Inc. increased its holdings in PBF Energy by 170.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after purchasing an additional 3,612,447 shares during the last quarter. Nuveen LLC acquired a new stake in PBF Energy in the 1st quarter valued at approximately $13,600,000. Deutsche Bank AG increased its holdings in PBF Energy by 697.2% in the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after purchasing an additional 686,103 shares during the last quarter. Recurrent Investment Advisors LLC increased its holdings in PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after purchasing an additional 573,161 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in PBF Energy by 94.7% in the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after purchasing an additional 276,672 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Performance

PBF traded down $1.16 on Friday, reaching $27.49. The company had a trading volume of 4,169,567 shares, compared to its average volume of 3,754,205. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.31. The stock has a market capitalization of $3.18 billion, a PE ratio of -3.20 and a beta of 0.98. 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 50-day moving average price of $25.18 and a 200-day moving average price of $21.48.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The firm had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. PBF Energy's quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.54) earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, August 14th. PBF Energy's payout ratio is -12.81%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PBF. Citigroup lifted their target price on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Scotiabank restated a "sector perform" rating and issued a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Piper Sandler boosted their price target on shares of PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a research note on Thursday. Bank of America boosted their price target on shares of PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company boosted their price target 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 investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $25.42.

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.