Charles Schwab Investment Management Inc. Increases 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. increased its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 12.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,675,273 shares of the oil and gas company's stock after buying an additional 182,456 shares during the period. Charles Schwab Investment Management Inc. owned 1.45% of PBF Energy worth $31,981,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PBF. T. Rowe Price Investment Management Inc. raised its stake in PBF Energy by 150.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after buying an additional 1,272,254 shares during the last quarter. Recurrent Investment Advisors LLC increased its stake in PBF Energy by 154.0% in the fourth 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 in the last quarter. Nuveen Asset Management LLC increased its stake in PBF Energy by 94.7% in the fourth 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 in the last quarter. Bank of New York Mellon Corp increased its stake in PBF Energy by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after purchasing an additional 260,464 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in PBF Energy by 12.6% in the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock valued at $43,690,000 after purchasing an additional 184,194 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

PBF Energy Stock Performance

Shares of NYSE PBF traded up $2.08 during midday trading on Friday, hitting $24.27. The company's stock had a trading volume of 5,986,429 shares, compared to its average volume of 3,511,887. The stock has a fifty day moving average price of $23.73 and a 200 day moving average price of $21.24. PBF Energy Inc. has a one year low of $13.61 and a one year high of $34.57. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -2.83 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly 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 company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company's quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. On average, research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's payout ratio is currently -12.81%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 48,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PBF has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Piper Sandler reiterated an "underweight" rating and set a $22.00 price objective (up from $21.00) on shares of PBF Energy in a report on Monday, August 4th. Morgan Stanley lifted their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Finally, Wells Fargo & Company lifted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average 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.