Y Intercept Hong Kong Ltd Invests $364,000 in PBF Energy Inc. (NYSE:PBF)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new position in PBF Energy Inc., purchasing 19,056 shares valued at approximately $364,000.
• Several institutional investors have increased their stakes in PBF Energy, with notable increases including Victory Capital Management's position raised by 163.6%.
• Analysts have varying opinions on PBF Energy's stock, with price targets ranging from $21.00 to $26.00, and a consensus rating of "Hold" with an average target price of $25.08.

Y Intercept Hong Kong Ltd purchased a new position in PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,056 shares of the oil and gas company's stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PBF. Bank of New York Mellon Corp grew its holdings in shares of PBF Energy by 14.0% in the first 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 acquiring an additional 260,464 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of PBF Energy by 150.7% during 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 last quarter. Two Sigma Investments LP increased its stake 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 purchasing an additional 184,194 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock worth $39,628,000 after buying an additional 562,287 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in PBF Energy by 1.2% in the 4th quarter. Two Sigma Advisers LP now owns 1,401,700 shares of the oil and gas company's stock worth $37,215,000 after acquiring an additional 17,100 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Down 4.0%

NYSE PBF traded down $0.91 on Friday, hitting $21.69. The stock had a trading volume of 4,210,877 shares, compared to its average volume of 3,214,817. The business's fifty day moving average price is $22.71 and its 200 day moving average price is $21.99. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -2.53 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $38.44.

PBF Energy (NYSE:PBF - Get Free Report) last announced 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 the consensus estimate of $6.65 billion. PBF Energy had a negative return on equity of 17.13% and a negative net margin of 3.24%. The firm's revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.54) EPS. Equities research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, August 14th. PBF Energy's payout ratio is presently -12.09%.

Analyst Ratings Changes

Several analysts recently issued reports on PBF shares. Wells Fargo & Company increased their target price 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. Scotiabank reaffirmed a "sector perform" rating and issued a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Mizuho boosted their price objective on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Piper Sandler lifted their target price on PBF Energy from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Tuesday, July 22nd. Finally, Citigroup lifted their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $25.08.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the purchase, the insider directly owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.30% of the company's stock.

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.