Axa S.A. Boosts Position in PBF Energy Inc. (NYSE:PBF)

Axa S.A. grew its position in PBF Energy Inc. (NYSE:PBF) by 65.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,378 shares of the oil and gas company’s stock after buying an additional 9,278 shares during the quarter. Axa S.A.’s holdings in PBF Energy were worth $1,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PBF. Caxton Associates LP increased its holdings in PBF Energy by 305.8% during the 2nd quarter. Caxton Associates LP now owns 107,436 shares of the oil and gas company’s stock valued at $4,944,000 after acquiring an additional 80,964 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PBF Energy during the 2nd quarter worth approximately $275,000. Point72 Hong Kong Ltd acquired a new position in shares of PBF Energy during the 2nd quarter worth approximately $124,000. HITE Hedge Asset Management LLC raised its position in shares of PBF Energy by 1,325.7% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 183,540 shares of the oil and gas company’s stock worth $8,447,000 after purchasing an additional 170,666 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in PBF Energy during the 2nd quarter valued at $1,968,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Up 1.3 %

Shares of NYSE:PBF opened at $31.36 on Wednesday. The stock has a 50-day simple moving average of $34.58 and a 200-day simple moving average of $44.50. The stock has a market capitalization of $3.72 billion, a P/E ratio of 2.17 and a beta of 1.56. PBF Energy Inc. has a 1 year low of $30.17 and a 1 year high of $62.88. 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 released its quarterly earnings data 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). The business had revenue of $8.74 billion during 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%. PBF Energy’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. Equities analysts forecast that PBF Energy Inc. will post 0.6 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is 6.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Wells Fargo & Company decreased their price target on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. UBS Group cut their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley decreased 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 research report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.91.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was purchased at an average price of $30.93 per share, for a total transaction of $1,237,200.00. Following the acquisition, the insider now directly owns 23,407,398 shares in the company, valued at $723,990,820.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 2,897,300 shares of company stock worth $95,603,276. 5.30% of the stock is currently owned by corporate insiders.

About PBF Energy

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.