Connor Clark & Lunn Investment Management Ltd. Takes $403,000 Position in PBF Energy Inc. $PBF

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PBF Energy, purchasing 21,113 shares valued at approximately $403,000 in the first quarter.
• Institutional investors dominate PBF Energy's ownership, with 96.29% of the stock held by them, indicating strong institutional interest in the company.
• PBF Energy reported a quarterly EPS of ($1.03), beating analyst expectations, despite a 14.4% decline in revenue year over year.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,113 shares of the oil and gas company's stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings 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 acquiring an additional 803 shares in the last quarter. Allworth Financial LP increased its holdings in shares of PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,090 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of PBF Energy during the first quarter valued at approximately $37,000. Parallel Advisors LLC increased its holdings in shares of PBF Energy by 80.4% during the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock valued at $46,000 after acquiring an additional 1,085 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of PBF Energy by 54.2% during the first 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 in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 48,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price 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 approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.70% of the stock is owned by corporate insiders.

PBF Energy Stock Performance

PBF stock traded up $1.4350 during midday trading on Monday, hitting $25.7550. The company's stock had a trading volume of 5,435,511 shares, compared to its average volume of 3,634,785. The stock's 50-day moving average price is $23.79 and its 200 day moving average price is $21.12. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.57. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -3.00 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.65 billion. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. The business's revenue was down 14.4% on a year-over-year basis. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PBF. Scotiabank restated a "sector perform" rating and set a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Citigroup boosted their price objective on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Wells Fargo & Company upped their price target on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Morgan Stanley upped their price target on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $25.17.

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.