Jefferies Financial Group Inc. Takes Position in PBF Energy Inc. (NYSE:PBF)

Key Points

• Jefferies Financial Group Inc. acquired 60,157 shares of PBF Energy, valued at approximately $1.15 million, representing about 0.05% ownership of the company.
• PBF Energy's recent earnings report showed a loss of ($1.03) per share, although it exceeded analyst expectations, while revenue reached $7.48 billion, down 14.4% year-over-year.
• The company declared a quarterly dividend of $0.275 per share, which corresponds to an annualized dividend yield of 4.6% and a negative payout ratio of -12.81%.

Jefferies Financial Group Inc. acquired a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 60,157 shares of the oil and gas company's stock, valued at approximately $1,148,000. Jefferies Financial Group Inc. owned about 0.05% of PBF Energy at the end of the most recent reporting period.

Other hedge funds 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% during 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 last quarter. Allworth Financial LP lifted its stake 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 worth $32,000 after purchasing an additional 1,090 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of PBF Energy during the 1st quarter worth $37,000. Parallel Advisors LLC increased its position 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 valued at $46,000 after buying an additional 1,085 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in PBF Energy by 43.5% during the 1st quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company's stock valued at $63,000 after buying an additional 1,000 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Scotiabank reaffirmed a "sector perform" rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Piper Sandler reaffirmed an "underweight" rating and set a $22.00 target price (up from $21.00) on shares of PBF Energy in a research report on Monday. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Wells Fargo & Company upped 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. Finally, Mizuho increased their price objective on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $25.17.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of PBF Energy stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This represents a 0.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.30% of the stock is currently owned by insiders.

PBF Energy Stock Performance

PBF Energy stock traded down $0.45 during midday trading on Thursday, hitting $22.29. 2,906,024 shares of the company were exchanged, compared to its average volume of 3,165,240. The firm has a market capitalization of $2.58 billion, a PE ratio of -2.59 and a beta of 0.92. The business has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $21.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $37.99.

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 for the quarter, topping the consensus estimate of ($1.19) by $0.16. The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%. The business's quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) EPS. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's dividend payout ratio is presently -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.