River Road Asset Management LLC Cuts Position in PBF Energy Inc. (PBF)
River Road Asset Management LLC reduced its position in PBF Energy Inc. (NYSE:PBF) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 588,605 shares of the oil and gas company’s stock after selling 45,330 shares during the quarter. River Road Asset Management LLC owned about 536,460.99% of PBF Energy worth $16,251,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in shares of PBF Energy by 50.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after buying an additional 1,580 shares during the period. Creative Planning raised its position in shares of PBF Energy by 92.7% in the 2nd quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after buying an additional 2,503 shares during the period. Flinton Capital Management LLC purchased a new position in shares of PBF Energy in the 2nd quarter worth $119,000. Huntington National Bank purchased a new position in shares of PBF Energy in the 2nd quarter worth $126,000. Finally, Sei Investments Co. raised its position in shares of 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 worth $134,000 after buying an additional 4,814 shares during the period.
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Several brokerages recently weighed in on PBF. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Cowen and Company reaffirmed a “buy” rating and issued a $30.00 target price on shares of PBF Energy in a research report on Thursday, August 17th. BidaskClub lowered PBF Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Scotiabank set a $24.00 target price on PBF Energy and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Citigroup Inc. cut their target price on PBF Energy from $37.50 to $33.50 and set a “buy” rating on the stock in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.56.
Shares of PBF Energy Inc. (PBF) traded up $0.38 during trading on Friday, hitting $30.95. The stock had a trading volume of 138,836 shares, compared to its average volume of 2,423,848. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3,468.11, a P/E ratio of 67.25, a PEG ratio of 1.99 and a beta of 1.42. PBF Energy Inc. has a 12 month low of $18.48 and a 12 month high of $32.05.
PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.22. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $4.90 billion. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. sell-side analysts expect that PBF Energy Inc. will post 1.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.88%. PBF Energy’s dividend payout ratio (DPR) is 57.42%.
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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