PBF Energy Inc (NYSE:PBF) Stock Position Raised by Point72 Hong Kong Ltd
Point72 Hong Kong Ltd lifted its position in PBF Energy Inc (NYSE:PBF) by 37.1% in the 4th quarter, Holdings Channel reports. The fund owned 9,751 shares of the oil and gas company’s stock after buying an additional 2,639 shares during the period. Point72 Hong Kong Ltd’s holdings in PBF Energy were worth $306,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of PBF. SG Americas Securities LLC lifted its position in shares of PBF Energy by 61.5% in the 3rd quarter. SG Americas Securities LLC now owns 15,764 shares of the oil and gas company’s stock valued at $429,000 after acquiring an additional 6,005 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $324,000. Phoenix Holdings Ltd. purchased a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $29,220,000. California State Teachers Retirement System lifted its position in shares of PBF Energy by 1.3% in the 3rd quarter. California State Teachers Retirement System now owns 201,594 shares of the oil and gas company’s stock valued at $5,481,000 after acquiring an additional 2,683 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in shares of PBF Energy by 43.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 36,791 shares of the oil and gas company’s stock valued at $1,000,000 after acquiring an additional 11,179 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.
In other PBF Energy news, insider Carso S.A. De C.V. Inversora purchased 553,796 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $29.92 per share, for a total transaction of $16,569,576.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 1,919,988 shares of company stock worth $47,931,232. 3.50% of the stock is currently owned by company insiders.
PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. PBF Energy had a net margin of 1.30% and a return on equity of 3.17%. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the business posted $1.03 EPS. PBF Energy’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts predict that PBF Energy Inc will post 3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.20 annualized dividend and a dividend yield of 18.10%. PBF Energy’s dividend payout ratio (DPR) is 133.33%.
Several research analysts have weighed in on the stock. Morgan Stanley lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $20.00 to $21.00 in a research note on Monday, March 16th. TheStreet lowered shares of PBF Energy from a “b-” rating to a “c+” rating in a research note on Friday, March 6th. Royal Bank of Canada reiterated a “hold” rating and issued a $31.00 price objective on shares of PBF Energy in a research note on Monday, January 20th. Tudor Pickering lowered shares of PBF Energy from a “buy” rating to a “sell” rating in a research note on Thursday, March 19th. Finally, Piper Sandler lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $29.00 in a research note on Friday, February 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. PBF Energy presently has a consensus rating of “Hold” and an average price target of $34.64.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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