Point72 Asia Singapore Pte. Ltd. Purchases Shares of 5,984 PBF Energy Inc. (NYSE:PBF)

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

Other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. grew its stake 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 worth $33,329,000 after acquiring an additional 89,900 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 worth $12,008,000 after buying an additional 184,426 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of PBF Energy by 4.8% during 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 acquiring an additional 48,525 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of PBF Energy during the first quarter valued at approximately $1,394,000. Finally, Inspire Investing LLC purchased a new position in PBF Energy in the first quarter worth $905,000. Institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PBF. Wells Fargo & Company cut their price target on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Scotiabank lowered their price objective on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley dropped their price objective on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $47.91.

PBF Energy Trading Up 1.3 %

Shares of PBF opened at $31.36 on Wednesday. PBF Energy Inc. has a twelve month low of $30.17 and a twelve month high of $62.88. The stock has a market capitalization of $3.72 billion, a P/E ratio of 2.17 and a beta of 1.56. 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 firm has a fifty day simple moving average of $34.58 and a two-hundred day simple moving average of $44.50.

PBF Energy (NYSE:PBF) last posted 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). The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. PBF Energy’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.29 earnings per share. On average, research analysts anticipate that PBF Energy Inc. will post 0.6 EPS for the current year.

PBF Energy Announces Dividend

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

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 307,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $39.22 per share, for a total transaction of $12,040,540.00. Following the completion of the acquisition, the insider now directly owns 18,079,598 shares in the company, valued at approximately $709,081,833.56. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 2,897,300 shares of company stock worth $95,603,276 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

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.