King Luther Capital Management Corp Purchases 1,402 Shares of PBF Energy Inc. (NYSE:PBF)

King Luther Capital Management Corp raised its holdings in PBF Energy Inc. (NYSE:PBF) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,213 shares of the oil and gas company’s stock after buying an additional 1,402 shares during the quarter. King Luther Capital Management Corp’s holdings in PBF Energy were worth $1,344,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in PBF Energy during the fourth quarter valued at approximately $54,832,000. Janus Henderson Group PLC boosted its stake in PBF Energy by 957.8% in the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after buying an additional 547,509 shares in the last quarter. SG Americas Securities LLC grew its position in PBF Energy by 14,785.7% in 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 acquiring an additional 539,381 shares during the period. Hsbc Holdings PLC raised its stake in 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 worth $22,881,000 after acquiring an additional 355,329 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after acquiring an additional 347,268 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

PBF Energy stock opened at $32.02 on Monday. The business’s 50-day simple moving average is $35.70 and its 200 day simple moving average is $45.55. 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 stock has a market cap of $3.80 billion, a price-to-earnings ratio of 2.22 and a beta of 1.56. PBF Energy Inc. has a 12-month low of $30.61 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last issued 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 business had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, research analysts anticipate that PBF Energy Inc. will post 1.25 earnings per share 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. 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 currently 6.92%.

Analysts Set New Price Targets

PBF has been the topic of several analyst reports. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Scotiabank reduced their target price on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, UBS Group reduced their price objective on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Three investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.91.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 670,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $31.29 per share, with a total value of $20,964,300.00. Following the completion of the purchase, the insider now owns 22,527,398 shares of the company’s stock, valued at approximately $704,882,283.42. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 2,584,300 shares of company stock worth $88,958,546 in the last three months. 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.