First Trust Advisors LP Invests $5.34 Million in PBF Energy Inc. $PBF

Key Points

• First Trust Advisors LP acquired 112,152 PBF Energy shares worth approximately $5.34 million, representing about 0.09% of the refiner. Institutional investors and hedge funds collectively own 96.29% of the stock.
• PBF Energy reported quarterly EPS of $6.22, beating estimates of $4.15, while revenue rose 56.2% year over year to $11.68 billion. The company also declared a quarterly dividend of $0.275, or $1.10 annually, yielding about 1.6%.
• Analyst sentiment remains mixed, with ratings ranging from strong buy to sell and an overall “Hold” consensus. Shares opened at $67.74, near their 12-month high of $74.74, while the average analyst price target was $46.31.

First Trust Advisors LP bought a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 112,152 shares of the oil and gas company's stock, valued at approximately $5,341,000. First Trust Advisors LP owned approximately 0.09% of PBF Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBF. PNC Financial Services Group Inc. lifted its stake in PBF Energy by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company's stock valued at $326,000 after buying an additional 260 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company's stock valued at $207,953,000 after purchasing an additional 454,731 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in PBF Energy by 361.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company's stock worth $8,718,000 after acquiring an additional 148,124 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of PBF Energy in the first quarter valued at $8,527,000. Finally, Archer Investment Corp acquired a new stake in PBF Energy during the first quarter worth approximately $231,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of PBF stock opened at $67.74 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.01 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.12 and a beta of 0.10. PBF Energy Inc. has a 12 month low of $21.46 and a 12 month high of $74.74. The stock has a 50 day moving average of $49.75 and a two-hundred day moving average of $43.23.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the previous year, the firm earned ($1.03) EPS. PBF Energy's quarterly revenue was up 56.2% on a year-over-year basis. As a group, equities analysts expect that PBF Energy Inc. will post 10.94 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.6%. PBF Energy's dividend payout ratio is presently 9.73%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of research analyst reports. TD Cowen lifted their price target on shares of PBF Energy from $39.00 to $68.00 and gave the company a "hold" rating in a report on Tuesday, July 21st. Zacks Research raised PBF Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Morgan Stanley boosted their price objective on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Friday, June 12th. The Goldman Sachs Group upped their price target on shares of PBF Energy from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of PBF Energy in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, PBF Energy has an average rating of "Hold" and an average price target of $46.31.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital sold 570,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the transaction, the insider directly owned 17,142,128 shares of the company's stock, valued at $794,709,054.08. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 3,466,570 shares of company stock worth $179,821,556. 5.50% of the stock is currently owned by corporate insiders.

About PBF Energy

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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