Scientech Research LLC Buys 11,113 Shares of PBF Energy Inc. $PBF

Key Points

• Scientech Research LLC increased its holdings in PBF Energy by 51.9%, acquiring 11,113 shares, bringing its total to 32,525 shares worth $621,000.
• Several hedge funds, including Fifth Third Bancorp and Activest Wealth Management, have significantly increased their positions, with institutional investors now owning 96.29% of PBF Energy's stock.
• PBF Energy reported a loss of $1.03 earnings per share for the last quarter, although it exceeded expectations, while its revenue was reported at $7.48 billion, down 14.4% year-over-year.

Scientech Research LLC lifted its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 51.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,525 shares of the oil and gas company's stock after buying an additional 11,113 shares during the quarter. Scientech Research LLC's holdings in PBF Energy were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after buying an additional 803 shares during the period. Allworth Financial LP grew its holdings in PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PBF Energy in the first quarter worth about $35,000. Neo Ivy Capital Management purchased a new stake in PBF Energy in the first quarter worth about $37,000. Finally, Activest Wealth Management grew its holdings in PBF Energy by 199,900.0% in the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 1,999 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Scotiabank restated a "sector perform" rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Piper Sandler upped their price objective on shares of PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a report on Thursday. Bank of America upped their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a report on Wednesday, September 3rd. 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 report on Tuesday, July 15th. Finally, Citigroup upped their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $25.42.

PBF Energy Stock Down 4.0%

Shares of NYSE:PBF traded down $1.16 during trading on Friday, reaching $27.49. 4,169,567 shares of the stock traded hands, compared to its average volume of 3,817,733. The stock has a 50-day moving average of $25.18 and a two-hundred day moving average of $21.47. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $34.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The stock has a market cap of $3.18 billion, a P/E ratio of -3.20 and a beta of 0.97.

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) earnings per share for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. As a group, sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.0%. PBF Energy's dividend payout ratio is -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.