Jefferies Financial Group Inc. Acquires New Shares 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. bought a new position in PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 60,157 shares of the oil and gas company's stock, valued at approximately $1,148,000. Jefferies Financial Group Inc. owned approximately 0.05% of PBF Energy as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in PBF Energy by 31.0% in the first quarter. US Bancorp DE now owns 7,780 shares of the oil and gas company's stock valued at $149,000 after purchasing an additional 1,839 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of PBF Energy by 212.4% during the first quarter. Bayforest Capital Ltd now owns 30,219 shares of the oil and gas company's stock worth $577,000 after buying an additional 20,547 shares in the last quarter. Vestcor Inc boosted its holdings in shares of PBF Energy by 48.6% during the 1st quarter. Vestcor Inc now owns 20,500 shares of the oil and gas company's stock worth $391,000 after purchasing an additional 6,700 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in PBF Energy during the first quarter worth about $780,000. Finally, Federated Hermes Inc. lifted its stake in shares of PBF Energy by 341.4% in the 1st quarter. Federated Hermes Inc. now owns 17,615 shares of the oil and gas company's stock valued at $336,000 after purchasing an additional 13,624 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of PBF traded down $0.17 during mid-day trading on Friday, hitting $22.13. The company's stock had a trading volume of 1,153,124 shares, compared to its average volume of 3,151,419. The firm has a 50-day moving average price of $22.96 and a 200 day moving average price of $21.77. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -2.58 and a beta of 0.92. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $37.99. 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 (NYSE:PBF - Get Free Report) last posted 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 net margin of 3.24% and a negative return on equity of 17.46%. The firm had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same period in the previous year, the company earned ($0.54) earnings per share. The company's revenue was down 14.4% compared to the same quarter last year. On average, research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders 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 5.0%. PBF Energy's dividend payout ratio is presently -12.81%.

Insider Activity

In other news, insider Control Empresarial De Capital bought 48,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PBF. Citigroup increased their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Scotiabank restated a "sector perform" rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Piper Sandler reissued an "underweight" rating and issued a $22.00 price objective (up from $21.00) on shares of PBF Energy in a research note on Monday. Finally, Morgan Stanley increased their target price on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $25.17.

PBF Energy 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.