Trexquant Investment LP Acquires 229,236 Shares of PBF Energy Inc. $PBF

Key Points

• Trexquant Investment LP significantly increased its stake in PBF Energy Inc. by 255.2%, acquiring 229,236 shares during Q1, bringing its total holdings to approximately $6.1 million.
• A number of analysts have adjusted their target prices for PBF Energy, with Wells Fargo raising it to $24.00 and UBS upgrading the stock to a "buy" with a target of $26.00.
• PBF Energy's recent earnings report showed an EPS of ($1.03), beating estimates, while the company also announced a quarterly dividend of $0.275, yielding 4.0%.

Trexquant Investment LP boosted its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 255.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,076 shares of the oil and gas company's stock after buying an additional 229,236 shares during the period. Trexquant Investment LP owned 0.28% of PBF Energy worth $6,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock worth $109,364,000 after acquiring an additional 3,612,447 shares during the period. Nuveen LLC purchased a new stake in shares of PBF Energy during the first quarter worth approximately $13,600,000. Deutsche Bank AG increased its stake in shares of PBF Energy by 697.2% during the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock worth $14,976,000 after buying an additional 686,103 shares during the period. Recurrent Investment Advisors LLC raised its stake in PBF Energy by 154.0% in the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after buying an additional 573,161 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in PBF Energy by 94.7% in the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after buying an additional 276,672 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Up 0.8%

Shares of NYSE PBF traded up $0.21 during mid-day trading on Friday, reaching $28.46. The company had a trading volume of 1,773,632 shares, compared to its average volume of 3,201,715. The stock has a market capitalization of $3.29 billion, a PE ratio of -3.32 and a beta of 0.98. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $34.31. The stock's 50 day moving average is $24.51 and its 200-day moving average is $21.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31.

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 (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.54) EPS. As a group, equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders 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 was Thursday, August 14th. PBF Energy's dividend payout ratio is -12.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PBF. Citigroup boosted their price objective on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Morgan Stanley upped their target price on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Bank of America upped their price objective on PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a report on Wednesday. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Finally, 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. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $24.83.

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.