Teza Capital Management LLC Makes New Investment 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 position in PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 12,192 shares of the oil and gas company's stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after purchasing an additional 260,464 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of PBF Energy during the 1st quarter worth about $300,000. Nuveen Asset Management LLC increased 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 worth $15,104,000 after purchasing an additional 276,672 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of PBF Energy during the 4th quarter worth about $803,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of PBF Energy during the 1st quarter worth about $191,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective 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. Citigroup raised their target price on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Scotiabank restated a "sector perform" rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Piper Sandler raised their target price on PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a report on Thursday. Finally, Bank of America raised their target price on PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average 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 midday trading on Friday, hitting $27.49. 4,169,567 shares of the company's stock were exchanged, compared to its average volume of 3,754,205. 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 Inc. has a twelve month low of $13.61 and a twelve month high of $34.31. The company has a market cap of $3.18 billion, a PE ratio of -3.20 and a beta of 0.98. The firm's fifty day simple moving average is $25.18 and its 200-day simple moving average is $21.48.

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) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. The company 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 firm's revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.54) earnings per share. Research analysts predict 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 was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio 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.