Point72 Asia Singapore Pte. Ltd. Invests $275,000 in PBF Energy Inc. (NYSE:PBF)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,984 shares of the oil and gas company’s stock, valued at approximately $275,000.

A number of other hedge funds have also recently bought and sold shares of PBF. Point72 Hong Kong Ltd purchased a new position in shares of PBF Energy during the 2nd quarter worth $124,000. HITE Hedge Asset Management LLC increased its stake in PBF Energy by 1,325.7% in the second quarter. HITE Hedge Asset Management LLC now owns 183,540 shares of the oil and gas company’s stock valued at $8,447,000 after purchasing an additional 170,666 shares during the last quarter. Interval Partners LP purchased a new position in PBF Energy during the second quarter worth about $1,968,000. Symmetry Investments LP acquired a new stake in PBF Energy in the 2nd quarter worth about $2,464,000. Finally, Sei Investments Co. boosted its stake in PBF Energy by 27.0% in the 2nd quarter. Sei Investments Co. now owns 101,593 shares of the oil and gas company’s stock worth $4,675,000 after buying an additional 21,574 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital acquired 50,000 shares of PBF Energy stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $35.60 per share, for a total transaction of $1,780,000.00. Following the purchase, the insider now directly owns 18,179,598 shares of the company’s stock, valued at approximately $647,193,688.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 2,897,300 shares of company stock valued at $95,603,276. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PBF. Mizuho cut their price objective on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Wells Fargo & Company reduced their target price on PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Morgan Stanley lowered their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $47.91.

PBF Energy Stock Performance

PBF Energy stock opened at $31.35 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. The firm’s fifty day moving average price is $35.15 and its 200 day moving average price is $45.18. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 2.17 and a beta of 1.56. PBF Energy Inc. has a 12-month low of $30.58 and a 12-month high of $62.88.

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 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 business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. On average, research analysts forecast that PBF Energy Inc. will post 0.6 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

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.