Victory Capital Management Inc. Buys 77,858 Shares of PBF Energy Inc. (NYSE:PBF)

Key Points

• Victory Capital Management Inc. increased its stake in PBF Energy Inc. by 163.6%, acquiring an additional 77,858 shares, which now totals approximately 0.11% of the company valued at $2.4 million.
• PBF Energy reported a loss of $3.09 earnings per share for the last quarter but surpassed analysts' expectations with revenues of $7.07 billion, despite a year-over-year decline of 18.3%.
• The company recently declared a quarterly dividend of $0.275 per share, resulting in a 4.39% dividend yield, although its dividend payout ratio stands at a negative -12.09%.

Victory Capital Management Inc. increased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 163.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,435 shares of the oil and gas company's stock after purchasing an additional 77,858 shares during the quarter. Victory Capital Management Inc. owned approximately 0.11% of PBF Energy worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBF. Fifth Third Bancorp increased its position in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after buying an additional 803 shares during the last quarter. Allworth Financial LP increased its stake in PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock worth $32,000 after buying an additional 1,090 shares during the period. Parallel Advisors LLC raised its position in PBF Energy by 80.4% during the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock worth $46,000 after acquiring an additional 1,085 shares during the last quarter. Golden State Wealth Management LLC increased its stake in PBF Energy by 43.5% during the first quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of PBF Energy by 61.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company's stock valued at $66,000 after purchasing an additional 1,320 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Trading Down 5.0%

PBF traded down $1.14 during trading on Friday, reaching $21.46. The company had a trading volume of 1,332,460 shares, compared to its average volume of 3,138,022. The firm's 50-day simple moving average is $22.68 and its 200 day simple moving average is $22.04. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -2.35 and a beta of 0.84. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $38.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same quarter last year, the company posted ($0.54) EPS. PBF Energy's quarterly revenue was down 14.4% compared to the same quarter last year. Equities research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 5.1%. PBF Energy's dividend payout ratio (DPR) is -12.09%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PBF. Scotiabank reissued 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. 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 price target on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Mizuho lifted their target price on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler increased their price objective on PBF Energy from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.08.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 48,500 shares of the company's stock in a transaction that occurred on 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 purchase, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.30% of the company's stock.

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.