Invesco Ltd. Acquires 135,318 Shares of PBF Energy Inc. $PBF

Key Points

• Invesco Ltd. increased its stake in PBF Energy by 13.4% during the first quarter, acquiring 135,318 additional shares, bringing its total ownership to approximately 1.14 million shares valued at $21.85 million.
• PBF Energy announced a quarterly dividend of $0.275 per share, with an annualized yield of 4.6%, to be paid on August 28th to investors of record.
• Analysts have mixed ratings for PBF Energy, with a consensus target price of $25.17, and varying recommendations from "Buy" to "Sell."

Invesco Ltd. lifted its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 13.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,144,734 shares of the oil and gas company's stock after purchasing an additional 135,318 shares during the period. Invesco Ltd. owned about 0.99% of PBF Energy worth $21,853,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of PBF Energy by 125.7% in the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 803 shares during the period. Allworth Financial LP raised its stake in PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 1,090 shares during the period. Neo Ivy Capital Management bought a new stake in PBF Energy during the 1st quarter worth approximately $37,000. Parallel Advisors LLC raised its stake in PBF Energy by 80.4% during the 1st quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock worth $46,000 after acquiring an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in PBF Energy by 54.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company's stock worth $51,000 after acquiring an additional 936 shares during the period. Institutional investors own 96.29% of the company's stock.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $17.99 per share, with a total value of $872,515.00. Following the completion of the acquisition, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.30% of the company's stock.

PBF Energy Trading Up 1.0%

Shares of PBF opened at $23.7040 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.80. The company has a 50 day simple moving average of $23.64 and a two-hundred day simple moving average of $21.32. The firm has a market cap of $2.74 billion, a P/E ratio of -2.76 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the firm posted ($0.54) EPS. The company's revenue was down 14.4% on a year-over-year basis. On average, equities analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced 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 4.6%. PBF Energy's dividend payout ratio (DPR) is -12.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PBF shares. Morgan Stanley raised their target price on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group upgraded 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 research note on Tuesday, May 13th. Wells Fargo & Company raised their target price on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. 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. Finally, Piper Sandler restated an "underweight" rating and set a $22.00 target price (up previously from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $25.17.

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.

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