Schwab Charles Investment Management Inc. Has $9.78 Million Stake in PBF Energy Inc. (PBF)
Schwab Charles Investment Management Inc. grew its position in shares of PBF Energy Inc. (NYSE:PBF) by 18.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 439,332 shares of the oil and gas company’s stock after buying an additional 69,393 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.40% of PBF Energy worth $9,780,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in shares of PBF Energy by 50.0% during 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 acquiring an additional 1,580 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in PBF Energy in the 1st quarter valued at approximately $113,000. Creative Planning lifted its position in PBF Energy by 92.7% in the 2nd quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after acquiring an additional 2,503 shares in the last quarter. Huntington National Bank bought a new position in PBF Energy in the 2nd quarter valued at approximately $126,000. Finally, Sei Investments Co. lifted its position in PBF Energy by 391.7% in the 2nd quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 4,814 shares in the last quarter.
A number of research firms have commented on PBF. Citigroup Inc. reduced their target price on PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a report on Monday, August 7th. Scotiabank set a $24.00 price target on PBF Energy and gave the company a “buy” rating in a report on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and set a $30.00 price objective on shares of PBF Energy in a research report on Thursday, August 17th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $20.00 price objective on shares of PBF Energy in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded PBF Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. PBF Energy presently has a consensus rating of “Hold” and an average price target of $23.67.
Shares of PBF Energy Inc. (NYSE:PBF) opened at 26.91 on Tuesday. PBF Energy Inc. has a 12 month low of $18.48 and a 12 month high of $30.98. The company’s market cap is $2.95 billion. The stock’s 50 day moving average is $23.99 and its 200-day moving average is $22.27.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, equities analysts forecast that PBF Energy Inc. will post $0.78 EPS for the current year.
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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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