Petrus Trust Company LTA Raises Stock Position in PBF Energy Inc. $PBF

Key Points

• Petrus Trust Company LTA increased its stake in PBF Energy Inc. by 173.2%, now holding 43,251 shares valued at approximately $826,000.
• PBF Energy reported earnings of ($1.03) per share, beating estimates, with revenue of $7.48 billion, despite a 14.4% year-over-year decline.
• The company has announced a quarterly dividend of $0.275 per share, equating to an annualized dividend yield of 3.9%.

Petrus Trust Company LTA grew its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 173.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,251 shares of the oil and gas company's stock after acquiring an additional 27,417 shares during the period. Petrus Trust Company LTA's holdings in PBF Energy were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of PBF Energy by 125.7% during the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 803 shares during the period. Allworth Financial LP grew its position in shares of 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 acquiring an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PBF Energy during the 1st quarter valued at $35,000. Neo Ivy Capital Management purchased a new position in shares of PBF Energy during the 1st quarter valued at $37,000. Finally, Activest Wealth Management lifted its stake in shares of PBF Energy by 199,900.0% during the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock valued at $38,000 after buying an additional 1,999 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PBF. Citigroup lifted their target price on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Bank of America lifted their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a research note on Wednesday, September 3rd. Morgan Stanley lifted their target price 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. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their target price for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler restated an "underweight" rating and set a $22.00 target price (up previously from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $24.83.

PBF Energy Price Performance

NYSE PBF traded up $1.55 on Tuesday, reaching $29.96. The company had a trading volume of 6,787,583 shares, compared to its average volume of 3,466,432. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.47 billion, a PE ratio of -3.49 and a beta of 0.98. The firm's 50 day moving average price is $24.93 and its 200 day moving average price is $21.36. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.31.

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) EPS 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 last year, the company posted ($0.54) EPS. The business's revenue was down 14.4% on a year-over-year basis. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is presently -12.81%.

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.