26,860 Shares in PBF Energy Inc. $PBF Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has acquired 26,860 shares of PBF Energy Inc., valued at approximately $513,000, marking its first investment in the company during the first quarter.
• PBF Energy has recently received several analyst upgrades, boosting its price targets, with UBS Group raising their target from $20.00 to $26.00 and Wells Fargo lifting theirs from $21.00 to $24.00.
• The company announced a quarterly dividend of $0.275, with a yield of 4.3%, set to be paid to shareholders of record on August 14th.

Quantbot Technologies LP bought a new position in PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,860 shares of the oil and gas company's stock, valued at approximately $513,000.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of PBF Energy by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after acquiring an additional 260,464 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of PBF Energy in the first quarter worth $300,000. Nuveen Asset Management LLC lifted its holdings in shares of PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after purchasing an additional 276,672 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of PBF Energy during the fourth quarter valued at $803,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of PBF Energy during the first quarter valued at $191,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 48,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $872,515.00. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.30% of the company's stock.

PBF Energy Stock Performance

Shares of NYSE PBF traded up $0.32 during trading on Thursday, hitting $26.68. The company had a trading volume of 3,916,567 shares, compared to its average volume of 3,834,702. The stock has a 50 day simple moving average of $23.93 and a 200 day simple moving average of $21.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.49. The firm has a market capitalization of $3.09 billion, a P/E ratio of -3.11 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The firm had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same quarter last year, the business posted ($0.54) earnings per share. The firm's revenue was down 14.4% on a year-over-year basis. As a group, analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a $0.275 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.1%. PBF Energy's payout ratio is -12.81%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PBF. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and upped their price target for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Mizuho upped their price target on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Citigroup upped their price target on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Scotiabank reaffirmed a "sector perform" rating and set a $25.00 price target (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Finally, Wells Fargo & Company increased their target price on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of "Reduce" and an average target price of $25.17.

About PBF Energy

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.