Hsbc Holdings PLC Boosts Stake in PBF Energy Inc. $PBF

Hsbc Holdings PLC increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 34.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 90,790 shares of the oil and gas company’s stock after acquiring an additional 23,116 shares during the quarter. Hsbc Holdings PLC’s holdings in PBF Energy were worth $4,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. Invesco Ltd. raised its stake in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after purchasing an additional 1,651,516 shares during the period. AQR Capital Management LLC boosted its holdings in PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after purchasing an additional 1,454,500 shares during the last quarter. Norges Bank acquired a new position in PBF Energy in the 4th quarter valued at about $34,243,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after buying an additional 1,159,628 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

More PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF was added to multiple Zacks Rank #1 (Strong Buy) lists on July 24, including momentum, value, income, and general strong-buy screens, which can boost trader interest and signal improving analyst sentiment. Article Title
• Positive Sentiment: Several Zacks pieces highlighted PBF as a top-ranked growth, value, income, and momentum stock, reinforcing the idea that the name is screening well across multiple investment styles. Article Title
• Positive Sentiment: PBF was featured in a “Best Momentum Stocks” article and noted as being up strongly over the past week, suggesting short-term buying momentum remains intact. Article Title
• Neutral Sentiment: One article compared PBF’s year-to-date performance with peers like Phillips 66, which is mainly a relative-performance check and not a direct catalyst. Article Title
• Neutral Sentiment: Another note said PBF does not have the ideal setup for a likely earnings beat ahead of next week’s report, so investors may remain cautious until the company releases results. Article Title
• Negative Sentiment: Seeking Alpha published an earnings preview titled “Don’t Get Trapped At The Top”, which suggests some skepticism about upside after the recent run-up. Article Title

PBF Energy Trading Down 0.3%

PBF opened at $61.74 on Friday. PBF Energy Inc. has a 12 month low of $21.24 and a 12 month high of $68.33. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The business has a fifty day moving average price of $46.67 and a 200 day moving average price of $41.64.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The firm had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.53) EPS. Sell-side analysts expect that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. PBF Energy’s payout ratio is currently 29.65%.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of recent analyst reports. Citigroup upped their price objective on PBF Energy from $43.00 to $65.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group raised their target price on PBF Energy from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen lifted their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday. Wall Street Zen raised PBF Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $45.62.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction on Friday, July 10th. The shares were sold at an average price of $54.52, for a total value of $5,452,000.00. Following the transaction, the insider directly owned 15,712,128 shares in the company, valued at approximately $856,625,218.56. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 3,541,570 shares of company stock valued at $165,787,386 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

PBF Energy Profile

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.