Symmetry Investments LP Purchases New Stake in PBF Energy Inc. (NYSE:PBF)

Symmetry Investments LP acquired a new position in PBF Energy Inc. (NYSE:PBF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 53,547 shares of the oil and gas company’s stock, valued at approximately $2,464,000.

Several other institutional investors have also recently added to or reduced their stakes in PBF. Norges Bank acquired a new position in shares of PBF Energy in the 4th quarter valued at about $54,832,000. Janus Henderson Group PLC boosted its stake in PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after acquiring an additional 547,509 shares during the period. SG Americas Securities LLC grew its holdings in shares of PBF Energy by 14,785.7% during the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after purchasing an additional 539,381 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of PBF Energy by 246.5% during the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after purchasing an additional 355,329 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

PBF stock opened at $32.01 on Friday. The firm has a 50 day simple moving average of $35.70 and a 200 day simple moving average of $45.58. 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 $3.75 billion, a P/E ratio of 2.22 and a beta of 1.56. 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 (NYSE:PBF) last posted its quarterly 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). The company 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%. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Research analysts anticipate that PBF Energy Inc. will post 1.25 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PBF shares. Scotiabank dropped their target price on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wolfe Research started coverage on shares of PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lowered their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Morgan Stanley cut 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 research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.91.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 102,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $44.91 per share, for a total transaction of $4,580,820.00. Following the completion of the acquisition, the insider now owns 17,453,598 shares of the company’s stock, valued at approximately $783,841,086.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 2,684,300 shares of company stock worth $93,389,546 in the last three months. 5.30% of the stock is owned by insiders.

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.