SG Americas Securities LLC Boosts Stake in PBF Energy Inc. $PBF

SG Americas Securities LLC raised its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 111.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362,538 shares of the oil and gas company’s stock after buying an additional 190,994 shares during the period. SG Americas Securities LLC owned about 0.31% of PBF Energy worth $10,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PBF. MassMutual Private Wealth & Trust FSB lifted its stake in shares of PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,248 shares during the last quarter. UMB Bank n.a. increased its stake in PBF Energy by 67.2% in the second quarter. UMB Bank n.a. now owns 1,993 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 801 shares during the period. SBI Securities Co. Ltd. increased its stake in PBF Energy by 66.2% in the second quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 818 shares during the period. Farther Finance Advisors LLC lifted its position in shares of PBF Energy by 25.0% during the second quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 522 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of PBF Energy by 261.0% during the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,354 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Up 2.0%

NYSE:PBF opened at $32.80 on Friday. The firm has a 50-day simple moving average of $32.18 and a 200-day simple moving average of $28.81. PBF Energy Inc. has a one year low of $13.61 and a one year high of $41.47. The firm has a market cap of $3.80 billion, a P/E ratio of -7.05, a P/E/G ratio of 1.04 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.17. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. PBF Energy’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted ($1.50) earnings per share. Equities analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s payout ratio is presently -23.66%.

Insider Transactions at PBF Energy

In related news, Director Thomas J. Nimbley sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the sale, the director owned 790,716 shares of the company’s stock, valued at $27,287,609.16. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 50,000 shares of PBF Energy stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total value of $2,041,500.00. Following the completion of the transaction, the senior vice president owned 205,340 shares in the company, valued at $8,384,032.20. This trade represents a 19.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 429,624 shares of company stock worth $15,534,465. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

PBF has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Cowen restated a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. Piper Sandler raised shares of PBF Energy from an “underweight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Thursday. UBS Group boosted their price target on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Scotiabank increased their price objective on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $29.57.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.