Private Management Group Inc. Purchases 41,360 Shares of PBF Energy Inc. (NYSE:PBF)

Key Points

• Private Management Group Inc. increased its stake in PBF Energy Inc. by 3.9% during the first quarter, acquiring an additional 41,360 shares, bringing its total holdings to 1,098,655 shares worth approximately $20.97 million.
• PBF Energy's stock opened at $23.37, witnessing a 3.9% decline, while the company reported a quarterly loss of ($3.09) EPS, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.275 per share, reflecting an annualized yield of 4.71%, despite having a negative dividend payout ratio.

Private Management Group Inc. raised its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 3.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,098,655 shares of the oil and gas company's stock after purchasing an additional 41,360 shares during the quarter. Private Management Group Inc. owned 0.95% of PBF Energy worth $20,973,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in shares of PBF Energy during the first quarter worth about $37,000. Cetera Investment Advisers increased its holdings in PBF Energy by 22.5% during the 1st quarter. Cetera Investment Advisers now owns 45,659 shares of the oil and gas company's stock worth $872,000 after purchasing an additional 8,378 shares in the last quarter. Readystate Asset Management LP raised its stake in shares of PBF Energy by 34.5% in the first quarter. Readystate Asset Management LP now owns 19,580 shares of the oil and gas company's stock worth $374,000 after purchasing an additional 5,017 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of PBF Energy in the first quarter worth approximately $364,000. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of PBF Energy by 10.1% in the first quarter. Verdence Capital Advisors LLC now owns 13,840 shares of the oil and gas company's stock valued at $264,000 after purchasing an additional 1,269 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 48,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the acquisition, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by corporate insiders.

PBF Energy Stock Down 3.9%

PBF Energy stock opened at $23.37 on Friday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -2.57 and a beta of 0.84. The firm has a 50 day simple moving average of $22.36 and a 200 day simple moving average of $22.15. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $42.64. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The firm's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's dividend payout ratio (DPR) is presently -12.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PBF shares. Piper Sandler upped their price target on PBF Energy from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Tuesday. Mizuho raised their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. 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. Scotiabank restated a "sector perform" rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Finally, The Goldman Sachs Group decreased their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $25.08.

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.

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