20,661 Shares in PBF Energy Inc. $PBF Bought by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC has acquired 20,661 shares of PBF Energy Inc., valued at approximately $448,000, making a new investment in the oil and gas sector.
• Analysts have raised price targets for PBF Energy, with Morgan Stanley updating their target from $20 to $24, while Citigroup raised theirs from $16 to $29, reflecting a generally positive outlook.
• PBF Energy recently declared a quarterly dividend of $0.275 per share, with a current dividend yield of 3.7%, despite reporting a negative earnings per share of ($1.03) in their last quarterly results.

Pallas Capital Advisors LLC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,661 shares of the oil and gas company's stock, valued at approximately $448,000.

A number of other large investors also recently bought and sold shares of PBF. T. Rowe Price Investment Management Inc. lifted its position in PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after acquiring an additional 3,612,447 shares during the period. Nuveen LLC purchased a new position in PBF Energy during the 1st quarter valued at about $13,600,000. Deutsche Bank AG lifted its position in PBF Energy by 697.2% during the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after acquiring an additional 686,103 shares during the period. Nuveen Asset Management LLC lifted its position in 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 valued at $15,104,000 after acquiring an additional 276,672 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in 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 valued at $40,504,000 after acquiring an additional 260,464 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on PBF shares. Tudor Pickering cut shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Wells Fargo & Company lifted their target price on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho lifted their target price on shares of PBF Energy from $23.00 to $26.00 and gave the stock an "underperform" rating in a report on Monday, September 15th. UBS Group lifted their target price on shares of PBF Energy from $28.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $25.00 target price (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $26.38.

PBF Energy Stock Performance

NYSE PBF traded up $1.75 during trading hours on Tuesday, hitting $32.39. 1,739,627 shares of the company's stock traded hands, compared to its average volume of 3,255,252. The business's fifty day moving average price is $25.60 and its two-hundred day moving average price is $21.87. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $3.75 billion, a P/E ratio of -3.78 and a beta of 0.97. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $34.22.

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 the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm's quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.54) earnings per share. Equities research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio is presently -12.81%.

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.