PBF Energy Inc. (NYSE:PBF) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in PBF Energy by 697.2%, owning 784,515 shares valued at approximately $14.98 million after acquiring an additional 686,103 shares in the first quarter.
• Insider transactions included Control Empresarial De Capital's purchase of 48,500 shares at an average price of $17.99 per share, raising their total holdings to 30,823,498 shares.
• PBF Energy plans to pay a $0.275 quarterly dividend, resulting in an annualized yield of 4.7%, with the ex-dividend date on August 14th.

Deutsche Bank AG grew its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 697.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 784,515 shares of the oil and gas company's stock after buying an additional 686,103 shares during the period. Deutsche Bank AG owned 0.68% of PBF Energy worth $14,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of PBF Energy by 12.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock worth $31,981,000 after purchasing an additional 182,456 shares in the last quarter. IPG Investment Advisors LLC lifted its stake in shares of PBF Energy by 81.8% during the first 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 in the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $51,000 after purchasing an additional 936 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of PBF Energy during the first quarter worth about $1,148,000. Finally, US Bancorp DE lifted its stake in shares of PBF Energy by 31.0% during the first quarter. US Bancorp DE now owns 7,780 shares of the oil and gas company's stock worth $149,000 after purchasing an additional 1,839 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PBF. Morgan Stanley boosted 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. Mizuho lifted their target price on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Citigroup lifted their target price on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their target price on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, PBF Energy currently has an average rating of "Hold" and an average target price of $25.17.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $0.56 during trading on Friday, hitting $23.27. 2,898,944 shares of the company traded hands, compared to its average volume of 3,393,407. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -2.71 and a beta of 0.92. The business's fifty day moving average is $23.43 and its 200-day moving average is $21.39. PBF Energy Inc. has a one year low of $13.61 and a one year high of $37.22. 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 (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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the company posted ($0.54) EPS. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced 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. This represents a $1.10 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date 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 bought 48,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

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.