Recurrent Investment Advisors LLC Has $47.76 Million Stake in PBF Energy Inc. $PBF

Key Points

• Recurrent Investment Advisors reduced its PBF Energy stake by 19.8%, selling 248,000 shares in the first quarter. The fund still held 1,002,915 shares worth approximately $47.76 million, representing 2.9% of its portfolio.
• Institutional investors own 96.29% of PBF Energy, while insiders have sold 3.4 million shares valued at about $164.1 million over the past three months.
• PBF Energy recently reported a quarterly loss of $0.88 per share, missing estimates, despite revenue rising 11.9% year over year to $7.90 billion. The company maintains a $0.275 quarterly dividend, or $1.10 annually, while analysts’ consensus rating remains “Hold” with a $45.62 price target.

Recurrent Investment Advisors LLC reduced its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,002,915 shares of the oil and gas company's stock after selling 248,000 shares during the period. PBF Energy accounts for approximately 2.9% of Recurrent Investment Advisors LLC's investment portfolio, making the stock its 16th biggest position. Recurrent Investment Advisors LLC owned approximately 0.85% of PBF Energy worth $47,759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBF. Torren Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy in the fourth quarter worth approximately $31,000. Leonteq Securities AG acquired a new position in shares of PBF Energy in the first quarter worth approximately $33,000. Smartleaf Asset Management LLC boosted its holdings in PBF Energy by 65.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in PBF Energy in the fourth quarter valued at approximately $57,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 220,000 shares of the business's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.96, for a total transaction of $14,071,200.00. Following the transaction, the insider owned 15,492,128 shares in the company, valued at $990,876,506.88. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 3,399,570 shares of company stock valued at $164,111,586. Insiders own 5.50% of the company's stock.

PBF Energy Trading Down 2.5%

NYSE PBF opened at $61.22 on Wednesday. The business has a 50 day simple moving average of $47.45 and a 200 day simple moving average of $42.20. PBF Energy Inc. has a one year low of $21.24 and a one year high of $68.33. The stock has a market capitalization of $7.24 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($3.53) earnings per share. Research analysts expect that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. PBF Energy's payout ratio is currently 29.65%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore started coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a research report on Monday, May 11th. Wall Street Zen raised shares of PBF Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Scotiabank lifted their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $45.62.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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