Hsbc Holdings PLC Boosts Holdings in PBF Energy Inc. (NYSE:PBF)

Hsbc Holdings PLC boosted its position in shares of PBF Energy Inc. (NYSE:PBF) by 246.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 499,456 shares of the oil and gas company’s stock after purchasing an additional 355,329 shares during the quarter. Hsbc Holdings PLC owned about 0.42% of PBF Energy worth $22,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 224 shares during the last quarter. Rise Advisors LLC bought a new position in PBF Energy in the 1st quarter valued at approximately $27,000. National Bank of Canada FI purchased a new stake in PBF Energy during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy in the 4th quarter worth $29,000. Finally, CWM LLC raised its stake in shares of PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group reduced their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Wolfe Research started coverage on shares of PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $47.00 to $25.00 in a report on Friday. Finally, Scotiabank decreased their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average price target of $47.91.

PBF Energy Trading Down 5.5 %

Shares of NYSE:PBF opened at $32.02 on Friday. The stock has a 50 day moving average of $35.70 and a 200 day moving average of $45.57. The company has a market cap of $3.80 billion, a PE 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. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data 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). The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the company earned $2.29 earnings per share. As a group, equities research analysts expect that PBF Energy Inc. will post 1.25 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed 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 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 670,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $31.29 per share, for a total transaction of $20,964,300.00. Following the purchase, the insider now directly owns 22,527,398 shares of the company’s stock, valued at approximately $704,882,283.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders acquired 2,684,300 shares of company stock worth $93,389,546. 5.30% of the stock is owned by corporate insiders.

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.