International Assets Investment Management LLC Acquires Shares of 3,145 PBF Energy Inc. (NYSE:PBF)

International Assets Investment Management LLC acquired a new stake in PBF Energy Inc. (NYSE:PBF) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,145 shares of the oil and gas company’s stock, valued at approximately $145,000.

Other large investors also recently modified their holdings of the company. Hennessy Advisors Inc. increased its position in shares of PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock valued at $33,329,000 after purchasing an additional 89,900 shares during the last quarter. Van ECK Associates Corp increased its position in shares of PBF Energy by 763.4% in the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares during the last quarter. Norges Bank purchased a new stake in shares of PBF Energy in the 4th quarter valued at approximately $54,832,000. Acadian Asset Management LLC increased its position in shares of PBF Energy by 4.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of PBF Energy in the 1st quarter valued at approximately $1,394,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on PBF shares. The Goldman Sachs Group lowered their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Wolfe Research started coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho lowered their target price on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Piper Sandler lowered their target price on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, Scotiabank lowered their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average price target of $53.80.

PBF Energy Stock Up 2.1 %

Shares of NYSE:PBF opened at $34.06 on Monday. The stock has a market cap of $3.99 billion, a P/E ratio of 2.36 and a beta of 1.60. The firm has a fifty day moving average price of $39.08 and a 200 day moving average price of $47.19. 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 $32.17 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 EPS. Sell-side analysts predict that PBF Energy Inc. will post 1.61 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. PBF Energy’s payout ratio is currently 6.92%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 51,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was bought at an average price of $46.19 per share, for a total transaction of $2,355,690.00. Following the transaction, the insider now owns 14,875,198 shares in the company, valued at $687,085,395.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders bought 2,364,100 shares of company stock worth $103,048,517. 5.30% of the stock is owned by 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.