Hara Capital LLC reduced its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 17.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 448,145 shares of the oil and gas company's stock after selling 97,450 shares during the quarter. PBF Energy makes up approximately 5.8% of Hara Capital LLC's investment portfolio, making the stock its largest position. Hara Capital LLC owned approximately 0.39% of PBF Energy worth $8,555,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBF. Bank of New York Mellon Corp grew its position in PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after purchasing an additional 260,464 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 valued at $56,191,000 after purchasing an additional 1,272,254 shares during the period. American Century Companies Inc. increased its holdings in shares of PBF Energy by 11.2% in the fourth quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock valued at $49,532,000 after purchasing an additional 187,351 shares during the period. Two Sigma Investments LP increased its holdings in shares of PBF Energy by 12.6% in the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock valued at $43,690,000 after purchasing an additional 184,194 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in PBF Energy by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company's stock valued at $39,634,000 after buying an additional 78,045 shares during the last quarter. Institutional investors own 96.29% of the company's stock.
Wall Street Analyst Weigh In
PBF has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of PBF Energy from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 11th. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. The Goldman Sachs Group cut their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Mizuho increased their price target on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler lowered their target price on PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $24.00.
Read Our Latest Research Report on PBF Energy
PBF Energy Stock Up 4.1%
PBF stock traded up $1.16 during midday trading on Friday, reaching $29.06. 2,693,878 shares of the company were exchanged, compared to its average volume of 2,724,212. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29. PBF Energy Inc. has a 1-year low of $13.62 and a 1-year high of $42.64. The stock's 50-day simple moving average is $21.33 and its 200 day simple moving average is $22.21. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -3.19 and a beta of 0.84.
PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company's revenue was down 18.3% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.
PBF Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's dividend payout ratio (DPR) is -12.09%.
Insider Buying and Selling
In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired 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 owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by company insiders.
PBF Energy Profile
(
Free Report)
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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