Intech Investment Management LLC Acquires 25,616 Shares of PBF Energy Inc. $PBF

Key Points

• Intech Investment Management LLC has significantly increased its position in PBF Energy by 27.3%, bringing its total ownership to $2.28 million with 119,365 shares.
• PBF Energy's stock performance remains fluctuating, with a current price of $27.90 and a 52-week range between $13.61 and $34.31.
• Analysts have varied ratings on PBF Energy, with current target prices ranging from $21.00 to $29.00, indicating a consensus rating of "Reduce".

Intech Investment Management LLC grew its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,365 shares of the oil and gas company's stock after purchasing an additional 25,616 shares during the quarter. Intech Investment Management LLC owned approximately 0.10% of PBF Energy worth $2,279,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 803 shares in the last quarter. Allworth Financial LP lifted its position in shares of PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PBF Energy during the first quarter worth $35,000. Neo Ivy Capital Management purchased a new position in PBF Energy in the first quarter valued at $37,000. Finally, Activest Wealth Management increased its position in shares of PBF Energy by 199,900.0% during the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 1,999 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Analysts Set New Price Targets

PBF has been the subject of several analyst reports. Bank of America boosted their price target on PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a report on Wednesday, September 3rd. Tudor Pickering lowered shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. Piper Sandler upped their target price on shares of PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a research note on Thursday, September 11th. Wells Fargo & Company increased their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Scotiabank restated a "sector perform" rating and set a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $25.54.

PBF Energy Stock Down 1.8%

PBF Energy stock traded down $0.54 during midday trading on Friday, hitting $30.12. The stock had a trading volume of 7,985,642 shares, compared to its average volume of 3,802,793. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.22. The stock has a market cap of $3.48 billion, a P/E ratio of -3.51 and a beta of 0.98. The business has a fifty day moving average price of $25.53 and a 200 day moving average price of $21.78. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating 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 17.46%. The business had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.65 billion. During the same period in the previous year, the company posted ($0.54) EPS. PBF Energy's revenue was down 14.4% on a year-over-year basis. Research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.7%. PBF Energy's payout ratio is currently -12.81%.

PBF Energy Company 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.