Swiss National Bank Sells 17,100 Shares of PBF Energy Inc. $PBF

Key Points

• The Swiss National Bank reduced its stake in PBF Energy by 9.3%, selling 17,100 shares and maintaining ownership of 167,200 shares worth $3,192,000.
• Analysts have set a mixed consensus on PBF Energy's stock, with price targets ranging from $22.00 to $26.00 and ratings varying from "Buy" to "Sell."
• PBF Energy reported a quarterly loss of ($1.03) EPS, but exceeded revenue expectations with $7.48 billion, although revenue was down 14.4% year-over-year.

Swiss National Bank trimmed its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,200 shares of the oil and gas company's stock after selling 17,100 shares during the quarter. Swiss National Bank owned about 0.14% of PBF Energy worth $3,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PBF. Bank of New York Mellon Corp boosted its holdings in PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after purchasing an additional 260,464 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after purchasing an additional 1,272,254 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PBF Energy by 12.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock worth $31,981,000 after purchasing an additional 182,456 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of PBF Energy by 12.6% during the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock valued at $43,690,000 after purchasing an additional 184,194 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of PBF Energy by 1.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,401,700 shares of the oil and gas company's stock valued at $37,215,000 after purchasing an additional 17,100 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PBF shares. Piper Sandler reaffirmed an "underweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. Mizuho lifted their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Scotiabank reaffirmed a "sector perform" rating and set a $25.00 price target (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Finally, Wells Fargo & Company upped their price target 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. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $25.17.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 48,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the purchase, the insider owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.30% of the company's stock.

PBF Energy Stock Down 6.0%

PBF stock opened at $22.2010 on Friday. The firm has a 50-day moving average price of $23.67 and a 200-day moving average price of $21.29. The stock has a market capitalization of $2.57 billion, a P/E ratio of -2.58 and a beta of 0.92. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.57. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The business had revenue of $7.48 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. As a group, equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 5.0%. PBF Energy's dividend payout ratio (DPR) is -12.81%.

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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