nVerses Capital LLC Buys New Shares in PBF Energy Inc. (NYSE:PBF)

nVerses Capital LLC purchased a new position in PBF Energy Inc. (NYSE:PBF) during the 2nd quarter, Holdings Channel reports. The firm purchased 5,800 shares of the oil and gas company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PBF. Abacus Planning Group Inc. grew its position in PBF Energy by 54.5% during the second quarter. Abacus Planning Group Inc. now owns 5,487 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,935 shares in the last quarter. TFB Advisors LLC grew its holdings in shares of PBF Energy by 28.3% during the 2nd quarter. TFB Advisors LLC now owns 9,997 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 2,204 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of PBF Energy during the second quarter valued at approximately $145,000. Signaturefd LLC raised its stake in shares of PBF Energy by 18.8% in the second quarter. Signaturefd LLC now owns 8,822 shares of the oil and gas company’s stock valued at $406,000 after purchasing an additional 1,399 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in PBF Energy in the second quarter worth $1,674,000. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 51,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 14,875,198 shares in the company, valued at approximately $687,085,395.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have bought 2,364,100 shares of company stock worth $103,048,517. Insiders own 5.30% of the company’s stock.

PBF Energy Stock Up 2.1 %

Shares of NYSE PBF opened at $34.06 on Monday. PBF Energy Inc. has a 12-month low of $32.17 and a 12-month high of $62.88. The firm’s 50-day simple moving average is $39.08 and its 200 day simple moving average is $47.19. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 2.36 and a beta of 1.60.

PBF Energy (NYSE:PBF) last announced its 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). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. On average, research analysts expect that PBF Energy Inc. will post 1.61 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PBF. The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler decreased their price objective on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. UBS Group dropped their target price on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Wells Fargo & Company decreased their price target on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and a consensus price target of $53.80.

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.