Cwm LLC Increases Stock Position in PBF Energy Inc. $PBF

Key Points

• Cwm LLC increased its stake in PBF Energy Inc. by 673.9% during the second quarter, now owning 41,897 shares valued at approximately $908,000.
• PBF Energy's stock rating has been downgraded by multiple analysts, with Tudor Pickering reducing it to a "strong sell" and a consensus rating of "Reduce" among analysts.
• The company recently announced a quarterly dividend payment of $0.275, resulting in a yield of 3.9%, despite posting a negative EPS of ($1.03) for the last quarter.

Cwm LLC increased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 673.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,897 shares of the oil and gas company's stock after buying an additional 36,483 shares during the quarter. Cwm LLC's holdings in PBF Energy were worth $908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company's stock worth $31,000 after buying an additional 1,248 shares during the last quarter. Allworth Financial LP grew 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 worth $32,000 after buying an additional 1,090 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PBF Energy during the first quarter worth about $35,000. Neo Ivy Capital Management purchased a new position in shares of PBF Energy during the first quarter worth about $37,000. Finally, Activest Wealth Management grew its holdings in shares of PBF Energy by 199,900.0% during the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after buying an additional 1,999 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Activity at PBF Energy

In other PBF Energy news, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.13, for a total value of $1,706,500.00. Following the completion of the sale, the senior vice president directly owned 173,332 shares of the company's stock, valued at approximately $5,915,821.16. The trade was a 22.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the senior vice president directly owned 207,984 shares of the company's stock, valued at $7,071,456. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Tudor Pickering downgraded shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Weiss Ratings restated a "sell (d+)" rating on shares of PBF Energy in a research report on Wednesday, October 8th. Wells Fargo & Company raised 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. Morgan Stanley set a $27.00 price target on shares of PBF Energy and gave the company an "underweight" rating in a research report on Friday, October 3rd. Finally, Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 price target for the company. in a research report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $26.17.

PBF Energy Trading Down 5.1%

Shares of PBF Energy stock opened at $28.00 on Wednesday. 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 Inc. has a 1 year low of $13.61 and a 1 year high of $34.29. The company has a market capitalization of $3.24 billion, a P/E ratio of -3.26 and a beta of 0.85. The business has a 50 day moving average price of $28.25 and a 200 day moving average price of $23.35.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) 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 firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the previous year, the firm posted ($0.54) EPS. The company's quarterly revenue was down 14.4% compared to the same quarter last year. Sell-side analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.9%. 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.

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