Vanguard Group Inc. Has $177.57 Million Stake in PBF Energy Inc. $PBF

Key Points

• Vanguard Group Inc. has reduced its stake in PBF Energy by 6.9%, owning 8.07% of the company after selling 690,339 shares, which are now valued at $177.57 million.
• Several other institutional investors, including Bank of New York Mellon and T. Rowe Price, have increased their positions in PBF Energy, indicating a mix of confidence among institutional investors.
• PBF Energy recently declared a quarterly dividend of $0.275, representing an annualized yield of 4.7%, despite reporting a negative EPS for the last quarter.

Vanguard Group Inc. reduced its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,301,717 shares of the oil and gas company's stock after selling 690,339 shares during the period. Vanguard Group Inc. owned about 8.07% of PBF Energy worth $177,570,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PBF. T. Rowe Price Investment Management Inc. lifted its position in shares of PBF Energy by 150.7% in 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 acquiring an additional 1,272,254 shares during the period. Recurrent Investment Advisors LLC raised its holdings in shares of PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock worth $25,096,000 after buying an additional 573,161 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of PBF Energy by 94.7% in 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 buying an additional 276,672 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $40,504,000 after buying an additional 260,464 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of PBF Energy by 12.6% in the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock worth $43,690,000 after buying an additional 184,194 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

PBF Energy Trading Up 9.4%

Shares of PBF Energy stock traded up $2.08 during trading on Friday, reaching $24.27. 5,986,429 shares of the company were exchanged, compared to its average volume of 3,511,887. The business has a 50-day moving average price of $23.73 and a 200-day moving average price of $21.24. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -2.83 and a beta of 0.92. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $34.57.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping 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 company's revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) earnings per share. Sell-side analysts anticipate 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 will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's payout ratio is -12.81%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 48,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PBF. Morgan Stanley lifted their price target on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Piper Sandler restated an "underweight" rating and issued a $22.00 price objective (up previously from $21.00) on shares of PBF Energy in a research report on Monday, August 4th. Wells Fargo & Company raised their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho raised their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Finally, Citigroup lifted their target price on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of "Reduce" and a consensus price target of $25.17.

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.