PBF Energy Inc. $PBF Shares Acquired by Invesco Ltd.

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. increased its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,144,734 shares of the oil and gas company's stock after acquiring an additional 135,318 shares during the period. Invesco Ltd. owned approximately 0.99% of PBF Energy worth $21,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in shares of PBF Energy by 125.7% during the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 803 shares during the period. Allworth Financial LP grew its position in shares of 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 valued at $32,000 after acquiring an additional 1,090 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of PBF Energy during the 1st quarter valued at about $37,000. Parallel Advisors LLC grew its position in shares of 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 valued at $46,000 after acquiring an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 valued at $51,000 after acquiring an additional 936 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Trading Down 3.2%

Shares of PBF stock traded down $0.82 during trading on Tuesday, hitting $24.94. 4,906,561 shares of the stock traded hands, compared to its average volume of 3,786,460. The firm has a market capitalization of $2.89 billion, a P/E ratio of -2.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The firm's fifty day moving average price is $23.80 and its 200-day moving average price is $21.15. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $34.49.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results 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 return on equity of 17.46% and a negative net margin of 3.24%.The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the company earned ($0.54) earnings per share. The firm's quarterly revenue was down 14.4% compared to the same quarter last year. As a group, research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, August 14th. PBF Energy's dividend payout ratio is currently -12.81%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PBF. Wells Fargo & Company raised their target price on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Mizuho boosted their price objective on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Piper Sandler reiterated an "underweight" rating and set a $22.00 price objective (up from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. Finally, UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $25.17.

About PBF Energy

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.