Charles Schwab Investment Management Inc. Boosts Stake in PBF Energy Inc. $PBF

Key Points

• Charles Schwab Investment Management increased its stake in PBF Energy by 12.2% in the first quarter, owning approximately $31.98 million of the company's stock.
• Insider Control Empresarial De Capital purchased 48,500 shares of PBF Energy, increasing their stake to 30,823,498 shares, valued at over $554 million.
• PBF Energy has declared a quarterly dividend of $0.275 per share, representing a 4.7% yield, to be paid on August 28th.

Charles Schwab Investment Management Inc. boosted its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,675,273 shares of the oil and gas company's stock after purchasing an additional 182,456 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.45% of PBF Energy worth $31,981,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. IPG Investment Advisors LLC grew its position in PBF Energy by 81.8% in the 1st quarter. IPG Investment Advisors LLC now owns 40,000 shares of the oil and gas company's stock worth $764,000 after purchasing an additional 18,000 shares during the period. PNC Financial Services Group Inc. grew its position in shares of PBF Energy by 54.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company's stock valued at $51,000 after acquiring an additional 936 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of PBF Energy during the 1st quarter valued at $1,148,000. US Bancorp DE grew its position in shares of PBF Energy by 31.0% during the 1st quarter. US Bancorp DE now owns 7,780 shares of the oil and gas company's stock valued at $149,000 after acquiring an additional 1,839 shares during the period. Finally, Bayforest Capital Ltd grew its position in shares of PBF Energy by 212.4% during the 1st quarter. Bayforest Capital Ltd now owns 30,219 shares of the oil and gas company's stock valued at $577,000 after acquiring an additional 20,547 shares during the period. Institutional investors own 96.29% of the company's stock.

PBF Energy Price Performance

Shares of NYSE PBF traded up $1.4350 during mid-day trading on Monday, hitting $25.7550. 5,435,511 shares of the company's stock traded hands, compared to its average volume of 3,634,785. The company's 50-day moving average is $23.79 and its two-hundred day moving average is $21.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The company has a market capitalization of $2.98 billion, a P/E ratio of -3.00 and a beta of 0.92. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.57.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $0.16. The firm had revenue of $7.48 billion for 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%. The business's revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.54) EPS. On average, equities analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's dividend payout ratio is -12.81%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $17.99 per share, with a total value of $872,515.00. Following the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 6.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PBF. Wells Fargo & Company boosted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating and set a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Citigroup upped their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and upped their target price for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Finally, Mizuho boosted their price target on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" 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.