PBF Energy Inc. $PBF Shares Sold by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has decreased its stake in PBF Energy by 25.8%, now holding 80,382 shares valued at approximately $1.53 million.
• Several hedge funds have shown increased investments in PBF Energy, with T. Rowe Price boosting its holdings by 170.7% to over 5.7 million shares.
• Analysts have varied ratings on PBF Energy, with a recent price target raised by Citigroup from $16 to $29, reflecting differing investor sentiments.

Magnetar Financial LLC reduced its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,382 shares of the oil and gas company's stock after selling 28,011 shares during the quarter. Magnetar Financial LLC owned approximately 0.07% of PBF Energy worth $1,534,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PBF. Bank of New York Mellon Corp grew its holdings in shares of PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after purchasing an additional 260,464 shares during the period. M&T Bank Corp purchased a new position in shares of PBF Energy during the 1st quarter worth $300,000. Nuveen Asset Management LLC grew its holdings in shares of PBF Energy by 94.7% during the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after purchasing an additional 276,672 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of PBF Energy during the 4th quarter worth $803,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of PBF Energy during the 1st quarter worth $191,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Stock Down 2.3%

Shares of PBF traded down $0.67 during midday trading on Wednesday, hitting $27.81. The company had a trading volume of 2,787,994 shares, compared to its average volume of 3,209,834. 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 1 year low of $13.61 and a 1 year high of $34.31. The firm has a market capitalization of $3.22 billion, a P/E ratio of -3.24 and a beta of 0.98. The company's 50-day simple moving average is $24.38 and its 200-day simple moving average is $21.23.

PBF Energy (NYSE:PBF - Get Free Report) last issued 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. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the company earned ($0.54) EPS. The business's quarterly revenue was down 14.4% on a year-over-year basis. As a group, sell-side analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is -12.81%.

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 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 transaction, the insider owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.70% of the company's stock.

Analysts Set New Price Targets

PBF has been the subject of a number of research analyst reports. Citigroup increased their price target on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Piper Sandler reiterated an "underweight" rating and set a $22.00 price target (up from $21.00) on shares of PBF Energy in a report on Monday, August 4th. Scotiabank restated a "sector perform" rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Morgan Stanley raised their target price on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy has an average rating of "Reduce" and an average price target of $24.83.

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.