Dimensional Fund Advisors LP Raises Stock Position in PBF Energy Inc. $PBF

Key Points

• Dimensional Fund Advisors LP increased its PBF Energy stake by 11.6% in the first quarter, ending with 4.37 million shares valued at about $208 million and representing roughly 3.73% of the company.
• Other institutional investors also added to or initiated positions, and hedge funds and institutions now own 96.29% of PBF Energy, showing heavy institutional interest in the stock.
• Despite strong recent stock performance, PBF Energy reported a quarterly earnings miss, while analysts remain mixed: the consensus rating is “Reduce” with an average target price of $45.62, even as some firms recently raised price targets.

Dimensional Fund Advisors LP lifted its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,366,331 shares of the oil and gas company's stock after purchasing an additional 454,731 shares during the quarter. Dimensional Fund Advisors LP owned about 3.73% of PBF Energy worth $207,953,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PBF. Allspring Global Investments Holdings LLC boosted its position in PBF Energy by 361.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company's stock valued at $8,718,000 after buying an additional 148,124 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of PBF Energy in the first quarter valued at $8,527,000. Archer Investment Corp acquired a new stake in shares of PBF Energy in the first quarter valued at $231,000. State of Michigan Retirement System boosted its holdings in PBF Energy by 3.1% in the first quarter. State of Michigan Retirement System now owns 20,000 shares of the oil and gas company's stock valued at $952,000 after purchasing an additional 600 shares during the period. Finally, Principal Financial Group Inc. grew its stake in PBF Energy by 4.7% during the 1st quarter. Principal Financial Group Inc. now owns 186,598 shares of the oil and gas company's stock worth $8,886,000 after purchasing an additional 8,361 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of the firm's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the transaction, the insider directly owned 15,712,128 shares of the company's stock, valued at approximately $856,625,218.56. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 3,541,570 shares of company stock valued at $165,787,386 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

PBF Energy Stock Performance

Shares of PBF opened at $61.74 on Friday. The stock has a 50 day moving average price of $46.67 and a 200 day moving average price of $41.64. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.10 and a beta of 0.11. PBF Energy Inc. has a 52-week low of $21.24 and a 52-week high of $68.33.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same period in the previous year, the business posted ($3.53) EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts predict that PBF Energy Inc. will post 10.94 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy's dividend payout ratio is presently 29.65%.

PBF Energy News Roundup

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF was added to multiple Zacks Rank #1 (Strong Buy) lists on July 24, including momentum, value, income, and general strong-buy screens, which can boost trader interest and signal improving analyst sentiment. Article Title
• Positive Sentiment: Several Zacks pieces highlighted PBF as a top-ranked growth, value, income, and momentum stock, reinforcing the idea that the name is screening well across multiple investment styles. Article Title
• Positive Sentiment: PBF was featured in a “Best Momentum Stocks” article and noted as being up strongly over the past week, suggesting short-term buying momentum remains intact. Article Title
• Neutral Sentiment: One article compared PBF’s year-to-date performance with peers like Phillips 66, which is mainly a relative-performance check and not a direct catalyst. Article Title
• Neutral Sentiment: Another note said PBF does not have the ideal setup for a likely earnings beat ahead of next week’s report, so investors may remain cautious until the company releases results. Article Title
• Negative Sentiment: Seeking Alpha published an earnings preview titled “Don’t Get Trapped At The Top”, which suggests some skepticism about upside after the recent run-up. Article Title

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PBF. Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Friday, June 12th. Wall Street Zen raised PBF Energy from a "hold" rating to a "buy" rating in a research report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. The Goldman Sachs Group raised their target price on shares of PBF Energy from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Scotiabank boosted their price target on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of "Reduce" and an average target price of $45.62.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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