Russell Investments Group Ltd. Boosts Stake in PBF Energy Inc. (PBF)
Russell Investments Group Ltd. increased its stake in PBF Energy Inc. (NYSE:PBF) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,516,043 shares of the oil and gas company’s stock after buying an additional 28,571 shares during the period. Russell Investments Group Ltd. owned approximately 1.38% of PBF Energy worth $33,748,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $488,000. Guggenheim Capital LLC raised its position in shares of PBF Energy by 92.9% in the fourth quarter. Guggenheim Capital LLC now owns 73,344 shares of the oil and gas company’s stock valued at $2,045,000 after buying an additional 35,329 shares during the period. Teachers Advisors LLC raised its position in shares of PBF Energy by 139.6% in the fourth quarter. Teachers Advisors LLC now owns 359,984 shares of the oil and gas company’s stock valued at $10,036,000 after buying an additional 209,738 shares during the period. Denali Advisors LLC bought a new position in shares of PBF Energy during the first quarter valued at approximately $778,000. Finally, Bank of Montreal Can raised its position in shares of PBF Energy by 18.3% in the first quarter. Bank of Montreal Can now owns 65,521 shares of the oil and gas company’s stock valued at $1,452,000 after buying an additional 10,142 shares during the period.
PBF Energy Inc. (NYSE:PBF) traded down 0.19% during midday trading on Friday, reaching $21.16. 1,824,914 shares of the company were exchanged. The firm’s market cap is $2.32 billion. PBF Energy Inc. has a one year low of $18.48 and a one year high of $30.98. The firm’s 50-day moving average is $22.29 and its 200-day moving average is $22.17.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.09. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same quarter last year, the firm earned $0.14 earnings per share. On average, equities analysts expect that PBF Energy Inc. will post $0.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend is Friday, August 11th. PBF Energy’s dividend payout ratio (DPR) is presently -363.64%.
Several equities analysts recently commented on PBF shares. Barclays PLC reaffirmed an “outperform” rating on shares of PBF Energy in a research report on Friday, April 14th. Citigroup Inc. reaffirmed a “buy” rating and set a $37.50 price target (down previously from $39.00) on shares of PBF Energy in a research report on Saturday, April 22nd. Zacks Investment Research raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 5th. Scotiabank set a $24.00 price target on shares of PBF Energy and gave the stock a “buy” rating in a research report on Saturday, May 6th. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of PBF Energy in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.33.
In other news, insider Connor Thomas L. O purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were bought at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the transaction, the insider now directly owns 105,135 shares in the company, valued at approximately $2,120,572.95. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the transaction, the chief executive officer now owns 290,000 shares of the company’s stock, valued at $5,710,100. The disclosure for this purchase can be found here. Company insiders own 2.55% of the company’s stock.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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