PBF Energy Inc. $PBF Stake Increased by Sei Investments Co.

Key Points

• Sei Investments increased its PBF Energy stake by 41.4% in the first quarter, owning 364,700 shares valued at approximately $17.4 million. Institutional investors collectively hold 96.29% of the company.
• PBF shares opened at $63.30, near their 52-week high of $68.33, despite the company reporting a quarterly loss of $0.88 per share that fell short of analyst expectations.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $45.62. Meanwhile, an insider sold 220,000 shares, and company insiders have sold roughly $164 million in stock over the past quarter.

Sei Investments Co. boosted its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 41.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,700 shares of the oil and gas company's stock after acquiring an additional 106,819 shares during the period. Sei Investments Co. owned 0.31% of PBF Energy worth $17,367,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new stake in shares of PBF Energy in the 1st quarter valued at about $5,341,000. PNC Financial Services Group Inc. increased its holdings in PBF Energy by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company's stock valued at $326,000 after buying an additional 260 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company's stock valued at $207,953,000 after buying an additional 454,731 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in PBF Energy by 361.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company's stock valued at $8,718,000 after buying an additional 148,124 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in PBF Energy during the first quarter valued at approximately $8,527,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Performance

Shares of PBF opened at $63.30 on Thursday. The firm has a fifty day moving average of $47.88 and a 200-day moving average of $42.42. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 0.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $68.33.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.53) earnings per share. As a group, equities analysts anticipate that PBF Energy Inc. will post 10.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PBF. Freedom Capital upgraded PBF Energy to a "hold" rating in a research report on Tuesday, July 7th. Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Friday, June 12th. Citigroup raised their price objective on PBF Energy from $43.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Mizuho lifted their price objective on shares of PBF Energy from $48.00 to $57.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted their target price on shares of PBF Energy from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of "Hold" and a consensus target price of $45.62.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 220,000 shares of PBF Energy stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.96, for a total transaction of $14,071,200.00. Following the sale, the insider owned 15,492,128 shares of the company's stock, valued at approximately $990,876,506.88. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 3,396,570 shares of company stock valued at $163,978,356 in the last quarter. 5.50% of the stock is currently owned by company insiders.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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