PBF Energy Inc. $PBF Stake Raised by Petrus Trust Company LTA

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 increased its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 173.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,251 shares of the oil and gas company's stock after purchasing an additional 27,417 shares during the quarter. 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after purchasing an additional 3,612,447 shares during the last quarter. Nuveen LLC purchased a new stake in PBF Energy during the 1st quarter worth approximately $13,600,000. Deutsche Bank AG raised its position in shares of PBF Energy by 697.2% in the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after purchasing an additional 686,103 shares in the last quarter. Recurrent Investment Advisors LLC boosted its stake in shares of PBF Energy by 154.0% during the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after buying an additional 573,161 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of PBF Energy by 94.7% during the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after buying an additional 276,672 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PBF shares. Citigroup lifted their price target 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. Piper Sandler boosted their target price on shares of PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a research report on Thursday. Bank of America upped 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 price target on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price objective on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of "Reduce" and a consensus target price of $25.42.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $0.46 during trading on Thursday, reaching $28.63. 2,860,112 shares of the company's stock traded hands, compared to its average volume of 3,232,349. The stock has a market capitalization of $3.31 billion, a P/E ratio of -3.33 and a beta of 0.98. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.31. The company has a 50 day moving average of $25.02 and a 200-day moving average of $21.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.PBF Energy's quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.54) earnings per share. On average, equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced 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 yield of 3.8%. The ex-dividend date 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.