Teza Capital Management LLC Takes Position in PBF Energy Inc. $PBF

Key Points

• Teza Capital Management LLC invested approximately $233,000 in PBF Energy Inc., acquiring 12,192 shares in the first quarter.
• Institutional investors own 96.29% of PBF Energy's stock, with significant increases in holdings from several firms, including a 241.9% increase by VR Advisory Services Ltd.
• PBF Energy reported a quarterly revenue of $7.48 billion, exceeding estimates, but posted a negative earnings per share of ($1.03).

Teza Capital Management LLC bought a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,192 shares of the oil and gas company's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBF. T. Rowe Price Investment Management Inc. boosted its position in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after acquiring an additional 3,612,447 shares during the last quarter. Nuveen LLC bought a new position in shares of PBF Energy during the 1st quarter valued at approximately $13,600,000. Deutsche Bank AG boosted its position in shares of PBF Energy by 697.2% during the 1st quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock valued at $14,976,000 after acquiring an additional 686,103 shares during the last quarter. Recurrent Investment Advisors LLC boosted its position in shares of PBF Energy by 154.0% during the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after acquiring an additional 573,161 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of PBF Energy by 94.7% during the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after acquiring an additional 276,672 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PBF shares. Piper Sandler increased their price target on PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a report on Thursday. Scotiabank restated a "sector perform" rating and set a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Wells Fargo & Company increased their price target on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Bank of America increased their price target on PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a report on Wednesday, September 3rd. Finally, Citigroup increased 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. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, PBF Energy currently has a consensus rating of "Reduce" and a consensus target price of $25.31.

PBF Energy Trading Up 1.5%

PBF stock traded up $0.40 during midday trading on Monday, reaching $27.85. The company's stock had a trading volume of 864,868 shares, compared to its average volume of 3,223,930. 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 fifty day simple moving average of $25.18 and a two-hundred day simple moving average of $21.47. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.31. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -3.25 and a beta of 0.97.

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

PBF Energy Announces Dividend

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