Hsbc Holdings PLC Acquires 30,430 Shares of PBF Energy Inc. $PBF

Key Points

• HSBC Holdings PLC boosted its stake in PBF Energy by 81.7% in the fourth quarter, buying 30,430 additional shares and bringing its total to 67,674 shares worth about $1.84 million.
• PBF Energy reported Q1 earnings of -$0.88 per share, missing analysts’ expectations, but revenue of $7.90 billion came in above estimates and rose 11.9% year over year.
• The company also paid a quarterly dividend of $0.275 per share and currently offers an annualized yield of 2.4%, while analysts maintain a cautious stance with a consensus rating of “Reduce”.

Hsbc Holdings PLC raised its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 81.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,674 shares of the oil and gas company's stock after purchasing an additional 30,430 shares during the quarter. Hsbc Holdings PLC owned 0.06% of PBF Energy worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada grew its position in PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company's stock valued at $590,000 after buying an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PBF Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company's stock worth $1,140,000 after acquiring an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PBF Energy by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock worth $4,996,000 after acquiring an additional 12,289 shares during the period. Acadian Asset Management LLC boosted its stake in PBF Energy by 261.0% in the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock valued at $62,000 after acquiring an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in PBF Energy in the second quarter valued at about $1,143,000. Institutional investors own 96.29% of the company's stock.

Insider Activity

In other news, insider Control Empresarial De Capital sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $42.79, for a total value of $8,558,000.00. Following the completion of the transaction, the insider directly owned 17,712,128 shares in the company, valued at approximately $757,901,957.12. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,741,570 shares of company stock valued at $76,703,786 over the last quarter. Corporate insiders own 5.50% of the company's stock.

PBF Energy Price Performance

PBF Energy stock opened at $46.53 on Tuesday. The firm has a market capitalization of $5.50 billion, a P/E ratio of 12.54, a PEG ratio of 0.14 and a beta of 0.12. PBF Energy Inc. has a one year low of $21.24 and a one year high of $52.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The business has a fifty day moving average price of $41.07 and a 200-day moving average price of $37.92.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the previous year, the firm posted ($3.53) earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that PBF Energy Inc. will post 7.69 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. PBF Energy's dividend payout ratio is currently 29.65%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PBF shares. TD Cowen upgraded shares of PBF Energy from a "sell" rating to a "hold" rating and raised their price target for the stock from $36.00 to $39.00 in a research note on Monday. Mizuho upped their price objective on PBF Energy from $43.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price objective on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Friday, June 12th. Citigroup raised their target price on PBF Energy from $36.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $36.69.

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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