PBF Energy Inc. $PBF Stock: Fulcrum Asset Management LLP Boosts Stake

Fulcrum Asset Management LLP increased its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 123,826.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,092 shares of the oil and gas company's stock after acquiring an additional 47,054 shares during the quarter. Fulcrum Asset Management LLP's holdings in PBF Energy were worth $3,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in PBF Energy by 85.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 258,428 shares of the oil and gas company's stock valued at $21,279,000 after purchasing an additional 119,385 shares during the last quarter. Brighton Jones LLC increased its stake in shares of PBF Energy by 1.8% in the third quarter. Brighton Jones LLC now owns 12,632 shares of the oil and gas company's stock worth $972,000 after purchasing an additional 220 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of PBF Energy by 7.7% in the third quarter. Parallel Advisors LLC now owns 3,284 shares of the oil and gas company's stock worth $253,000 after purchasing an additional 234 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of PBF Energy in the third quarter worth about $634,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of PBF Energy in the third quarter valued at approximately $270,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Price Performance

PBF stock opened at $69.57 on Tuesday. The firm has a 50 day moving average of $77.59 and a 200-day moving average of $54.71. The company has a current ratio of 1.59, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 12 month low of $25.62 and a 12 month high of $92.46. The firm has a market capitalization of $8.25 billion, a P/E ratio of 3.11, a price-to-earnings-growth ratio of 0.07 and a beta of 0.15.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, topping analysts' consensus estimates of $11.12 by $1.66. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the firm posted ($0.52) EPS. PBF Energy's revenue was up 58.6% on a year-over-year basis. As a group, sell-side analysts predict that PBF Energy Inc. will post 26.78 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Thursday, November 12th will be given a $0.3250 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This is a positive change from PBF Energy's previous quarterly dividend of $0.2750. This represents a $1.30 annualized dividend and a yield of 1.9%. PBF Energy's payout ratio is 4.91%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PBF. The Goldman Sachs Group raised their price objective on shares of PBF Energy from $81.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, October 9th. Freedom Broker raised shares of PBF Energy from a "sell" rating to a "hold" rating and boosted their target price for the company from $55.00 to $63.00 in a report on Monday, November 2nd. UBS Group restated a "buy" rating and set a $99.00 target price on shares of PBF Energy in a research report on Monday, October 5th. Freedom Capital lowered PBF Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded PBF Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $70.50.

Insider Transactions at PBF Energy

In other news, Director Thomas Nimbley sold 169,925 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $72.65, for a total transaction of $12,345,051.25. Following the completion of the sale, the director owned 793,737 shares of the company's stock, valued at $57,664,993.05. This represents a 17.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Lucey sold 142,364 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $73.50, for a total transaction of $10,463,754.00. Following the completion of the transaction, the chief executive officer directly owned 495,771 shares in the company, valued at approximately $36,439,168.50. The trade was a 22.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,380,060 shares of company stock valued at $181,363,248. Company insiders own 5.50% of the company's stock.

PBF Energy Profile

PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast.

PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.

The company also has logistics operations that support the movement and storage of crude oil and refined products through pipelines, terminals and related infrastructure.

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