Miles Capital Inc. Raises Holdings in PBF Energy Inc. (PBF)
Miles Capital Inc. grew its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 31.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,179 shares of the oil and gas company’s stock after purchasing an additional 11,920 shares during the quarter. Miles Capital Inc.’s holdings in PBF Energy were worth $1,117,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. HighTower Advisors LLC boosted its position in PBF Energy by 558.0% during the second quarter. HighTower Advisors LLC now owns 129,918 shares of the oil and gas company’s stock worth $2,892,000 after purchasing an additional 110,175 shares during the period. First Allied Advisory Services Inc. boosted its position in PBF Energy by 1.0% during the second quarter. First Allied Advisory Services Inc. now owns 17,239 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 177 shares during the period. Balyasny Asset Management LLC boosted its position in PBF Energy by 119.0% during the second quarter. Balyasny Asset Management LLC now owns 88,814 shares of the oil and gas company’s stock worth $1,977,000 after purchasing an additional 48,251 shares during the period. Petrus Trust Company LTA bought a new position in PBF Energy during the second quarter worth about $238,000. Finally, Stifel Financial Corp boosted its position in PBF Energy by 26.9% during the second quarter. Stifel Financial Corp now owns 12,587 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 2,668 shares during the period.
Shares of PBF Energy Inc. (PBF) traded down 0.83% during midday trading on Friday, reaching $27.61. 3,165,394 shares of the company were exchanged. PBF Energy Inc. has a 12-month low of $18.48 and a 12-month high of $30.98. The company has a 50 day moving average price of $22.92 and a 200-day moving average price of $21.98. The stock’s market capitalization is $3.03 billion.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, analysts forecast that PBF Energy Inc. will post $0.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a $0.30 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 4.35%. PBF Energy’s dividend payout ratio is presently -363.64%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Scotiabank set a $24.00 price target on shares of PBF Energy and gave the stock a “buy” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 price target on shares of PBF Energy in a report on Friday, July 14th. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Cowen and Company reissued a “buy” rating and issued a $30.00 price target on shares of PBF Energy in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.67.
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PBF Energy 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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