Hotchkis & Wiley Capital Management LLC Acquires 61,894 Shares of PBF Energy Inc. $PBF

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in PBF Energy by 14.1% by acquiring an additional 61,894 shares, resulting in a total of 501,464 shares valued at $9,573,000.
• Analysts have varying opinions on PBF Energy's stock, with price targets ranging from $24.00 to $29.00, and the overall consensus rating is currently "Reduce."
• PBF Energy has declared a quarterly dividend of $0.275, which represents an annualized yield of 4.5%, despite a negative net margin of 3.24% reported for the last quarter.

Hotchkis & Wiley Capital Management LLC grew its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 14.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 501,464 shares of the oil and gas company's stock after acquiring an additional 61,894 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.43% of PBF Energy worth $9,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake 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 valued at $40,504,000 after purchasing an additional 260,464 shares during the last quarter. M&T Bank Corp acquired a new position in shares of PBF Energy during the first quarter valued at about $300,000. Nuveen Asset Management LLC lifted its stake in shares of PBF Energy by 94.7% in 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 buying an additional 276,672 shares during the period. GF Fund Management CO. LTD. acquired a new stake in PBF Energy during the fourth quarter worth about $803,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in PBF Energy during the first quarter worth about $191,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PBF. Wells Fargo & Company lifted their price objective on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Scotiabank reiterated 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. Citigroup boosted their price target on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley raised their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $25.17.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the acquisition, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.30% of the stock is currently owned by corporate insiders.

PBF Energy Price Performance

Shares of PBF stock opened at $24.27 on Monday. The stock's fifty day moving average is $23.73 and its 200-day moving average is $21.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $34.57. The stock has a market capitalization of $2.81 billion, a PE ratio of -2.83 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm's quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.54) EPS. Equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.5%. PBF Energy's dividend payout ratio (DPR) is currently -12.81%.

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.

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