National Bank of Canada FI Buys Shares of 565 PBF Energy Inc. (NYSE:PBF)

National Bank of Canada FI purchased a new position in PBF Energy Inc. (NYSE:PBF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 565 shares of the oil and gas company’s stock, valued at approximately $26,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in PBF Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after acquiring an additional 69,422 shares during the last quarter. Norges Bank bought a new stake in PBF Energy in the fourth quarter worth approximately $54,832,000. Acadian Asset Management LLC lifted its stake 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 during the period. Janus Henderson Group PLC boosted its holdings in shares of PBF Energy by 957.8% during the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after buying an additional 547,509 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of PBF Energy by 59.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 581,045 shares of the oil and gas company’s stock worth $33,451,000 after buying an additional 215,689 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PBF shares. The Goldman Sachs Group cut their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Scotiabank decreased their target price on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Wells Fargo & Company decreased their price objective on PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.30.

PBF Energy Stock Performance

NYSE PBF opened at $32.61 on Monday. 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 company has a fifty day moving average price of $36.51 and a 200-day moving average price of $46.08. PBF Energy Inc. has a 1 year low of $30.61 and a 1 year high of $62.88. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 2.26 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the business earned $2.29 EPS. PBF Energy’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts predict that PBF Energy Inc. will post 1.62 EPS for the current fiscal year.

PBF Energy Announces Dividend

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

Insider Activity

In other news, insider Control Empresarial De Capital acquired 140,000 shares of PBF Energy stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $45.73 per share, with a total value of $6,402,200.00. Following the completion of the acquisition, the insider now owns 17,772,598 shares in the company, valued at $812,740,906.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 3,049,500 shares of company stock valued at $109,399,914 in the last three months. Company insiders own 5.30% of the company’s stock.

PBF Energy Company 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.