GSA Capital Partners LLP Purchases New Position in PBF Energy Inc. (NYSE:PBF)

Key Points

• GSA Capital Partners LLP acquired a new stake in PBF Energy, purchasing 40,873 shares valued at approximately $780,000 during the first quarter.
• Several institutional investors have significantly increased their holdings in PBF Energy, leading to institutional ownership of 96.29% of the company.
• PBF Energy recently announced a quarterly dividend of $0.275 per share, providing an annualized yield of 5.1% for investors.

GSA Capital Partners LLP purchased a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 40,873 shares of the oil and gas company's stock, valued at approximately $780,000.

Several other institutional investors have also added to or reduced their stakes in PBF. T. Rowe Price Investment Management Inc. lifted its stake in PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after purchasing an additional 1,272,254 shares during the last quarter. Norges Bank bought a new stake in PBF Energy in the fourth quarter worth about $20,896,000. Recurrent Investment Advisors LLC raised its stake in shares of PBF Energy by 154.0% during the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after acquiring an additional 573,161 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PBF Energy by 60.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock valued at $39,628,000 after acquiring an additional 562,287 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after acquiring an additional 276,672 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PBF. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Mizuho lifted their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Scotiabank reaffirmed a "sector perform" rating and set a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Finally, Piper Sandler lifted their price objective on shares of PBF Energy from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Tuesday, July 22nd. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $25.08.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was bought 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.30% of the stock is owned by corporate insiders.

PBF Energy Price Performance

NYSE PBF opened at $21.69 on Friday. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $38.44. The firm's fifty day simple moving average is $22.71 and its two-hundred day simple moving average is $21.99. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.51 billion, a P/E ratio of -2.53 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) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.13%. The business 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) earnings per share. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. Analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 5.1%. PBF Energy's payout ratio is currently -12.09%.

About PBF Energy

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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