Invst LLC Has $770,000 Holdings in PBF Energy Inc. (NYSE:PBF)

Invst LLC increased its stake in PBF Energy Inc. (NYSE:PBF) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,554 shares of the oil and gas company’s stock after purchasing an additional 965 shares during the period. Invst LLC’s holdings in PBF Energy were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Hennessy Advisors Inc. boosted its stake in shares of PBF Energy by 18.4% during the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock worth $33,329,000 after buying an additional 89,900 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of PBF Energy by 763.4% during 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 boosted its stake in shares of PBF Energy by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock worth $60,689,000 after buying an additional 48,525 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at about $1,394,000. Finally, Inspire Investing LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at about $905,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $30.95 on Tuesday. The company’s 50 day moving average price is $34.71 and its two-hundred day moving average price is $44.68. PBF Energy Inc. has a 12-month low of $30.58 and a 12-month high of $62.88. The firm has a market cap of $3.67 billion, a PE ratio of 2.14 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 announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts predict that PBF Energy Inc. will post 0.6 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.23%. PBF Energy’s payout ratio is presently 6.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PBF. JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Wolfe Research began coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Morgan Stanley dropped their target price 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. Finally, Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $47.00 to $25.00 in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.91.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 50,000 shares of PBF Energy stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $35.60 per share, for a total transaction of $1,780,000.00. Following the transaction, the insider now owns 18,179,598 shares of the company’s stock, valued at approximately $647,193,688.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 2,897,300 shares of company stock worth $95,603,276. Corporate 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.