Canada Pension Plan Investment Board Buys 203,800 Shares of PBF Energy Inc. (NYSE:PBF)

Canada Pension Plan Investment Board boosted its stake in PBF Energy Inc. (NYSE:PBF) by 346.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,600 shares of the oil and gas company’s stock after acquiring an additional 203,800 shares during the period. Canada Pension Plan Investment Board owned 0.22% of PBF Energy worth $12,085,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in PBF Energy in the fourth quarter valued at $54,832,000. Janus Henderson Group PLC boosted its position 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 valued at $34,811,000 after purchasing an additional 547,509 shares in the last quarter. SG Americas Securities LLC grew its stake in 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 worth $31,262,000 after purchasing an additional 539,381 shares during the period. Hsbc Holdings PLC increased its holdings in PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after purchasing an additional 355,329 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in PBF Energy by 32.9% in 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 buying an additional 347,268 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 670,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average cost of $31.29 per share, with a total value of $20,964,300.00. Following the completion of the transaction, the insider now owns 22,527,398 shares of the company’s stock, valued at approximately $704,882,283.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 2,584,300 shares of company stock worth $88,958,546 in the last 90 days. Insiders own 5.30% of the company’s stock.

PBF Energy Stock Down 1.2 %

Shares of NYSE:PBF opened at $31.63 on Tuesday. The business’s 50 day moving average is $35.52 and its 200 day moving average is $45.42. PBF Energy Inc. has a 12-month low of $30.61 and a 12-month high of $62.88. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 2.19 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.

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). 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 during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that PBF Energy Inc. will post 1.25 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. PBF Energy’s dividend payout ratio is currently 6.92%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PBF shares. Wells Fargo & Company lowered their price objective on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Wolfe Research began coverage on shares of PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. The Goldman Sachs Group cut their price objective on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Mizuho decreased their target price on PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $25.00 in a report on Friday. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.91.

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.