IPG Investment Advisors LLC Acquires 18,000 Shares of PBF Energy Inc. (NYSE:PBF)

Key Points

• IPG Investment Advisors LLC increased its stake in PBF Energy by 81.8% during the first quarter, owning 40,000 shares valued at $764,000.
• Analysts have given PBF Energy a mix of ratings with price targets ranging from $20.00 to $26.00, while the stock currently holds an average rating of "Hold" and a target of $25.08.
• PBF Energy announced a quarterly dividend of $0.275 per share, equating to an annualized yield of 5.1%, with the payment set for August 28th.

IPG Investment Advisors LLC raised its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 81.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the oil and gas company's stock after purchasing an additional 18,000 shares during the quarter. IPG Investment Advisors LLC's holdings in PBF Energy were worth $764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after buying an additional 803 shares in the last quarter. Allworth Financial LP boosted its stake in 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 valued at $32,000 after purchasing an additional 1,090 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of PBF Energy in the 1st quarter worth $37,000. Parallel Advisors LLC raised its holdings in PBF Energy by 80.4% during the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock valued at $46,000 after acquiring an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in PBF Energy by 54.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company's stock valued at $51,000 after acquiring an additional 936 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PBF. Scotiabank reiterated a "sector perform" rating and issued a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Morgan Stanley raised their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Citigroup raised their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Mizuho lifted their target price on shares of 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 given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.17.

PBF Energy Price Performance

PBF Energy stock traded down $0.30 during trading hours on Friday, hitting $22.00. 2,287,147 shares of the company traded hands, compared to its average volume of 3,154,819. The firm's 50-day simple moving average is $22.96 and its two-hundred day simple moving average is $21.77. The firm has a market cap of $2.54 billion, a P/E ratio of -2.56 and a beta of 0.92. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $37.99.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping 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 business 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. PBF Energy's revenue for the quarter was down 14.4% on a year-over-year basis. As a group, analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's payout ratio is -12.81%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 48,500 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the acquisition, the insider directly owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This represents a 0.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.30% of the stock is owned by company insiders.

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.