Swift Run Capital Management LLC Has $596,000 Position in PBF Energy Inc. (PBF)
Swift Run Capital Management LLC reduced its stake in shares of PBF Energy Inc. (NYSE:PBF) by 49.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,764 shares of the oil and gas company’s stock after selling 25,724 shares during the period. PBF Energy accounts for 0.3% of Swift Run Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Swift Run Capital Management LLC’s holdings in PBF Energy were worth $596,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of PBF. Nomura Asset Management Co. Ltd. raised its stake in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in PBF Energy during the first quarter valued at approximately $113,000. Creative Planning raised its stake in PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,503 shares during the period. Huntington National Bank purchased a new stake in PBF Energy during the second quarter valued at approximately $126,000. Finally, Sei Investments Co. raised its stake in PBF Energy by 391.7% in the second quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 4,814 shares during the period.
Shares of PBF Energy Inc. (NYSE:PBF) opened at 21.32 on Tuesday. PBF Energy Inc. has a 52 week low of $18.48 and a 52 week high of $30.98. The stock’s 50 day moving average is $22.26 and its 200 day moving average is $22.11. The stock’s market cap is $2.34 billion.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.09. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, equities analysts forecast that PBF Energy Inc. will post $0.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 5.63%. PBF Energy’s payout ratio is -363.64%.
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Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Credit Suisse Group lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research note on Tuesday, June 20th. Citigroup Inc. decreased their price objective on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Finally, US Capital Advisors reiterated a “hold” rating on shares of PBF Energy in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. PBF Energy currently has an average rating of “Hold” and a consensus price target of $23.33.
In related news, insider Connor Thomas L. O acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $20.17 per share, with a total value of $201,700.00. Following the completion of the acquisition, the insider now directly owns 105,135 shares of the company’s stock, valued at $2,120,572.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, with a total value of $984,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 290,000 shares of the company’s stock, valued at $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is owned by insiders.
About PBF Energy
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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