Northern Trust Corp Acquires 11,499 Shares of PBF Energy Inc. $PBF

Key Points

• Northern Trust Corp has increased its holdings in PBF Energy Inc. by 0.8% during the first quarter, now owning 1,390,455 shares valued at approximately $26.5 million.
• Other institutional investors also boosted their stakes in PBF Energy, with notable increases from Fifth Third Bancorp and Allworth Financial LP, highlighting growing institutional interest.
• PBF Energy recently announced a quarterly dividend of $0.275, with a yield of 4.0%, reflecting the company's ongoing commitment to return value to shareholders.

Northern Trust Corp raised its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,390,455 shares of the oil and gas company's stock after buying an additional 11,499 shares during the quarter. Northern Trust Corp owned 1.21% of PBF Energy worth $26,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PBF. Nuveen LLC acquired a new position in PBF Energy in the first quarter valued at about $13,600,000. Deutsche Bank AG raised its position in shares of PBF Energy by 697.2% during the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock worth $14,976,000 after purchasing an additional 686,103 shares during the period. Recurrent Investment Advisors LLC raised its position in shares of PBF Energy by 154.0% during the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock worth $25,096,000 after purchasing an additional 573,161 shares during the period. Nuveen Asset Management LLC raised its position in shares of PBF Energy by 94.7% during the fourth 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. Finally, Bank of New York Mellon Corp raised its position in shares of PBF Energy by 14.0% during the first 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. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Up 2.3%

Shares of NYSE:PBF traded up $0.64 during trading on Thursday, hitting $28.49. 1,395,387 shares of the company were exchanged, compared to its average volume of 3,198,682. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -3.31 and a beta of 0.98. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $34.31. The firm has a fifty day moving average price of $24.38 and a two-hundred day moving average price of $21.23. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly 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 firm had revenue of $7.48 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned ($0.54) EPS. As a group, research analysts anticipate 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 was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, August 14th. PBF Energy's payout ratio is currently -12.81%.

Analysts Set New Price Targets

A number of research firms have recently commented on PBF. Wells Fargo & Company raised their price target on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Bank of America raised their price target on PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a research report on Wednesday. Citigroup increased their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Finally, UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and increased their price objective for the stock 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 stock. According to MarketBeat.com, PBF Energy has an average rating of "Reduce" and a consensus target price of $24.83.

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.