6,997 Shares in PBF Energy Inc (PBF) Acquired by Magnus Financial Group LLC
Magnus Financial Group LLC purchased a new stake in PBF Energy Inc (NYSE:PBF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,997 shares of the oil and gas company’s stock, valued at approximately $229,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in PBF. Penserra Capital Management LLC increased its position in shares of PBF Energy by 675.4% during the fourth quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock worth $123,000 after buying an additional 3,296 shares during the period. First Foundation Advisors bought a new position in PBF Energy during the third quarter worth $207,000. Great Lakes Advisors LLC bought a new position in PBF Energy during the third quarter worth $221,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in PBF Energy by 53.5% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,790 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of PBF Energy in the third quarter valued at $242,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.
In related news, CEO Thomas J. Nimbley acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average price of $30.03 per share, for a total transaction of $750,750.00. Following the completion of the acquisition, the chief executive officer now owns 365,990 shares of the company’s stock, valued at approximately $10,990,679.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 14th. The oil and gas company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. PBF Energy had a net margin of 0.47% and a return on equity of 11.96%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the firm earned ($0.04) earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Equities research analysts predict that PBF Energy Inc will post 2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 28th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, February 27th. PBF Energy’s payout ratio is currently 36.81%.
PBF has been the topic of a number of recent research reports. Raymond James dropped their price objective on shares of PBF Energy from $50.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, December 31st. Barclays reaffirmed a “buy” rating and issued a $62.00 price objective on shares of PBF Energy in a research note on Friday, January 11th. Goldman Sachs Group lowered shares of PBF Energy from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $35.00 to $34.00 in a research note on Friday, January 25th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of PBF Energy in a research note on Thursday, January 10th. Finally, ValuEngine raised shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. PBF Energy has a consensus rating of “Hold” and a consensus price target of $48.40.
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PBF Energy Profile
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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