PBF Energy Inc. $PBF Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in PBF Energy by 31.4%, now holding approximately 124,988 shares valued at $2,382,000.
• Multiple analysts have raised their target prices for PBF Energy, with Citigroup increasing it from $16.00 to $29.00, while the consensus rating is currently "Reduce" with a target price of $25.17.
• PBF Energy reported a revenue of $7.48 billion for the last quarter, surpassing analysts' expectations of $6.65 billion, although the company has a negative net margin of -3.24% for the period.

Hsbc Holdings PLC boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 31.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,988 shares of the oil and gas company's stock after purchasing an additional 29,868 shares during the period. Hsbc Holdings PLC owned about 0.11% of PBF Energy worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBF. Raymond James Financial Inc. acquired a new position in PBF Energy during the fourth quarter valued at $1,654,000. First Trust Advisors LP lifted its position in PBF Energy by 59.7% during the fourth quarter. First Trust Advisors LP now owns 217,676 shares of the oil and gas company's stock valued at $5,779,000 after purchasing an additional 81,394 shares during the period. Tower Research Capital LLC TRC lifted its position in PBF Energy by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,892 shares of the oil and gas company's stock valued at $475,000 after purchasing an additional 5,771 shares during the period. Northern Trust Corp lifted its position in PBF Energy by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,378,956 shares of the oil and gas company's stock valued at $36,611,000 after purchasing an additional 50,541 shares during the period. Finally, AQR Capital Management LLC lifted its position in PBF Energy by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 654,093 shares of the oil and gas company's stock valued at $17,144,000 after purchasing an additional 140,804 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Piper Sandler reiterated an "underweight" rating and issued a $22.00 price objective (up previously from $21.00) on shares of PBF Energy in a research report on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley upped their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $25.17.

PBF Energy Trading Up 6.0%

Shares of PBF Energy stock opened at $26.33 on Thursday. The company has a market cap of $3.05 billion, a P/E ratio of -3.06 and a beta of 0.92. The firm has a 50-day simple moving average of $23.86 and a two-hundred day simple moving average of $21.18. 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 fifty-two week low of $13.61 and a fifty-two week high of $34.49.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. The business had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company's quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.54) earnings per share. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share 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 paid a dividend of $0.275 per share. 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 4.2%. PBF Energy's payout ratio is currently -12.81%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 48,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the purchase, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 5.30% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.