Point72 Hong Kong Ltd Raises Stock Position in PBF Energy Inc. (NYSE:PBF)

Point72 Hong Kong Ltd lifted its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 322.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,590 shares of the oil and gas company's stock after buying an additional 53,890 shares during the quarter. Point72 Hong Kong Ltd owned about 0.06% of PBF Energy worth $1,874,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter worth approximately $61,000. EverSource Wealth Advisors LLC lifted its position in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after buying an additional 614 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of PBF Energy during the 4th quarter worth approximately $68,000. Spire Wealth Management lifted its position in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock worth $71,000 after buying an additional 585 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in PBF Energy by 58.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company's stock valued at $80,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Stock Performance

Shares of PBF opened at $22.35 on Friday. 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 market capitalization of $2.58 billion, a P/E ratio of -4.75 and a beta of 0.76. The company's fifty day moving average is $18.10 and its two-hundred day moving average is $24.52. PBF Energy Inc. has a 1 year low of $13.62 and a 1 year high of $51.63.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.50) by $0.41. The company had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. PBF Energy's revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.275 dividend. 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 4.92%. PBF Energy's dividend payout ratio is presently -12.09%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of PBF Energy from $22.00 to $18.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Piper Sandler reduced their price target on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Mizuho upped their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.91.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 155,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $20.20 per share, for a total transaction of $3,131,000.00. Following the acquisition, the insider now directly owns 30,249,998 shares of the company's stock, valued at $611,049,959.60. This trade represents a 0.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 331,000 shares of company stock worth $6,075,180 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

PBF Energy 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.

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