Quest Partners LLC Invests $202,000 in PBF Energy Inc. (NYSE:PBF)

Quest Partners LLC bought a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,398 shares of the oil and gas company’s stock, valued at approximately $202,000.

Several other institutional investors have also bought and sold shares of the stock. Hennessy Advisors Inc. lifted its holdings in shares of PBF Energy by 18.4% during the first quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock valued at $33,329,000 after acquiring an additional 89,900 shares during the period. Van ECK Associates Corp increased its position in shares of PBF Energy by 763.4% during the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock worth $12,008,000 after purchasing an additional 184,426 shares in the last quarter. Norges Bank bought a new position in PBF Energy during the 4th quarter valued at about $54,832,000. Acadian Asset Management LLC boosted its position in PBF Energy by 4.8% in the first 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 buying an additional 48,525 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in PBF Energy during the first quarter worth about $1,394,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 100,000 shares of the stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $44.31 per share, with a total value of $4,431,000.00. Following the completion of the purchase, the insider now owns 17,307,598 shares of the company’s stock, valued at $766,899,667.38. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 3,049,500 shares of company stock worth $109,399,914 in the last ninety days. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

Shares of PBF stock opened at $32.61 on Monday. The firm’s 50 day moving average price is $36.51 and its two-hundred day moving average price is $46.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy Inc. has a 52-week low of $30.61 and a 52-week high of $62.88. The stock has a market cap of $3.82 billion, a PE ratio of 2.26 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its quarterly 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). The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate 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 business earned $2.29 earnings per share. As a group, analysts forecast that PBF Energy Inc. will post 1.62 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.07%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PBF shares. Mizuho cut their target price on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Wells Fargo & Company reduced their price objective on PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. UBS Group lowered their target price on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Piper Sandler reduced their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.30.

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.