Hsbc Holdings PLC Increases Holdings in PBF Energy Inc. (NYSE:PBF)

Hsbc Holdings PLC grew its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 1,115.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 95,120 shares of the oil and gas company's stock after acquiring an additional 87,296 shares during the period. Hsbc Holdings PLC owned about 0.08% of PBF Energy worth $2,532,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock worth $10,920,000 after purchasing an additional 392,776 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of PBF Energy by 5.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company's stock worth $8,929,000 after buying an additional 17,400 shares during the period. Norges Bank bought a new position in shares of PBF Energy in the 4th quarter worth about $20,896,000. Heartland Advisors Inc. purchased a new position in PBF Energy during the 4th quarter valued at about $1,420,000. Finally, Raymond James Financial Inc. bought a new stake in PBF Energy during the fourth quarter worth about $1,654,000. Institutional investors own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PBF shares. JPMorgan Chase & Co. decreased their target price on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Morgan Stanley lowered their price objective on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company cut their target price on PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Friday. Mizuho lowered their price target on PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. Finally, UBS Group cut their price objective on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of "Hold" and a consensus price target of $22.82.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 155,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $20.20 per share, with a total value of $3,131,000.00. Following the completion of the acquisition, the insider now owns 30,249,998 shares of the company's stock, valued at approximately $611,049,959.60. This trade represents a 0.52 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 481,000 shares of company stock valued at $10,380,180 in the last quarter. 5.30% of the stock is currently owned by insiders.

PBF Energy Stock Performance

Shares of PBF traded up $0.31 during mid-day trading on Tuesday, hitting $18.75. 529,413 shares of the company traded hands, compared to its average volume of 2,437,601. PBF Energy Inc. has a 1 year low of $13.62 and a 1 year high of $52.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The stock has a 50-day moving average price of $18.13 and a two-hundred day moving average price of $25.06. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -4.00 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. During the same period in the prior year, the firm earned $0.85 EPS. The company's revenue was down 18.3% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.87%. PBF Energy's dividend payout ratio is currently -12.09%.

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.