Intech Investment Management LLC Purchases 45,140 Shares of PBF Energy Inc. $PBF

Key Points

• Intech Investment Management LLC more than doubled its stake in PBF Energy in the fourth quarter, buying 45,140 additional shares to bring its total to 87,949 shares valued at about $2.39 million.
• Insider selling was significant, with Control Empresarial De Capital selling 1.1 million shares for about $50.8 million; insiders sold roughly 8.1 million shares over the last 90 days.
• PBF Energy reported a quarterly loss of $0.88 per share, missing estimates, though revenue of $7.90 billion topped forecasts and rose 11.9% year over year. The company also paid a quarterly dividend of $0.275 per share, equal to a 2.6% yield.

Intech Investment Management LLC increased its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 105.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,949 shares of the oil and gas company's stock after buying an additional 45,140 shares during the period. Intech Investment Management LLC owned 0.08% of PBF Energy worth $2,385,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PBF. Smartleaf Asset Management LLC boosted its holdings in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after buying an additional 589 shares during the period. Torren Management LLC bought a new stake in shares of PBF Energy during the 4th quarter worth $30,000. Hantz Financial Services Inc. boosted its holdings in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company's stock worth $39,000 after buying an additional 912 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of PBF Energy by 3,354.7% during the 4th quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company's stock worth $60,000 after buying an additional 2,147 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock worth $62,000 after buying an additional 2,354 shares during the period. 96.29% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Control Empresarial De Capital sold 1,100,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00. Following the completion of the transaction, the insider directly owned 22,996,898 shares of the company's stock, valued at approximately $1,062,686,656.58. This represents a 4.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 8,091,425 shares of company stock valued at $378,831,009. Corporate insiders own 5.50% of the company's stock.

PBF Energy Stock Performance

NYSE:PBF opened at $42.59 on Thursday. PBF Energy Inc. has a 12-month low of $17.53 and a 12-month high of $52.18. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $5.04 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. The firm has a 50-day moving average price of $42.62 and a 200 day moving average price of $37.15.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same period last year, the company earned ($3.53) EPS. The business's revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts anticipate that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. PBF Energy's dividend payout ratio is presently 29.65%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PBF. Piper Sandler upped their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. TD Cowen decreased their price objective on shares of PBF Energy from $41.00 to $36.00 and set a "sell" rating for the company in a report on Monday, April 27th. Scotiabank increased their price target on shares of PBF Energy from $28.00 to $34.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Morgan Stanley increased their price target on shares of PBF Energy from $27.00 to $34.00 and gave the company an "underweight" rating in a report on Friday, April 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of PBF Energy in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $36.15.

PBF Energy Company Profile

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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