Caxton Associates LLP Purchases New Shares 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 bought a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 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 quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PBF. T. Rowe Price Investment Management Inc. boosted its stake in shares of PBF Energy by 170.7% during 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 buying an additional 3,612,447 shares during the last quarter. Nuveen LLC bought a new position in PBF Energy during the first quarter worth $13,600,000. Deutsche Bank AG lifted its stake in PBF Energy by 697.2% during the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock worth $14,976,000 after purchasing an additional 686,103 shares during the last quarter. Recurrent Investment Advisors LLC lifted its stake in PBF Energy by 154.0% during 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 last quarter. Finally, Nuveen Asset Management LLC lifted its stake in PBF Energy by 94.7% during 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 last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PBF shares. Tudor, Pickering, Holt & Co. cut PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 price objective on the stock. in a research note on Monday. Wells Fargo & Company raised their price objective on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Piper Sandler raised their price objective on PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a research note on Thursday. Citigroup raised their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley raised their price objective on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, PBF Energy presently has an average rating of "Reduce" and an average target price of $25.31.

PBF Energy Stock Performance

Shares of PBF traded up $0.23 during trading hours on Monday, reaching $27.68. 994,602 shares of the company's stock traded hands, compared to its average volume of 3,224,658. The business's fifty day simple moving average is $25.18 and its two-hundred day simple moving average is $21.47. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -3.23 and a beta of 0.97. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $34.31. 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 released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. The firm had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.PBF Energy's 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. Analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's payout ratio is presently -12.81%.

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.