Scientech Research LLC Purchases 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 grew its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 51.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,525 shares of the oil and gas company's stock after acquiring 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 SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PBF shares. Piper Sandler restated an "underweight" rating and set a $22.00 target price (up previously from $21.00) on shares of PBF Energy in a research report on Monday, August 4th. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Wells Fargo & Company raised their target price on 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 set a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Finally, Mizuho raised their target price on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $24.83.

PBF Energy Trading Down 0.2%

PBF stock opened at $28.46 on Tuesday. The business has a fifty day moving average price of $24.77 and a 200 day moving average price of $21.30. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $34.31. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -3.31 and a beta of 0.97. 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 released its quarterly earnings results 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. 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 period last year, the firm posted ($0.54) EPS. The business's revenue was down 14.4% on a year-over-year basis. Analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is currently -12.81%.

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.

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