Point72 Hong Kong Ltd Purchases New Shares in PBF Energy Inc. (NYSE:PBF)

Point72 Hong Kong Ltd purchased a new position in PBF Energy Inc. (NYSE:PBF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,691 shares of the oil and gas company’s stock, valued at approximately $124,000.

A number of other institutional investors have also added to or reduced their stakes in PBF. GAMMA Investing LLC grew its position in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares during the period. National Bank of Canada FI bought a new stake in PBF Energy during the second quarter worth about $26,000. Rise Advisors LLC purchased a new stake in PBF Energy in the first quarter worth about $27,000. Creekmur Asset Management LLC bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $29,000. Finally, CWM LLC lifted its holdings in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

PBF has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research began coverage on PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Finally, Mizuho decreased their target price on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.91.

PBF Energy Stock Performance

PBF stock opened at $31.36 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy Inc. has a 1 year low of $30.58 and a 1 year high of $62.88. The company has a market cap of $3.72 billion, a P/E ratio of 2.14 and a beta of 1.56. The stock’s fifty day moving average price is $35.01 and its 200-day moving average price is $45.09.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the previous year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts forecast that PBF Energy Inc. will post 0.6 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.19%. PBF Energy’s payout ratio is presently 6.92%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital acquired 307,000 shares of PBF Energy stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $39.22 per share, for a total transaction of $12,040,540.00. Following the purchase, the insider now directly owns 18,079,598 shares of the company’s stock, valued at approximately $709,081,833.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 2,897,300 shares of company stock worth $95,603,276 in the last 90 days. 5.30% of the stock is currently owned by insiders.

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.