United Services Automobile Association boosted its stake in shares of PBF Energy Inc. (NYSE:PBF – Get Rating) by 7.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,914 shares of the oil and gas company’s stock after purchasing an additional 752 shares during the quarter. United Services Automobile Association’s holdings in PBF Energy were worth $383,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PBF. Lazard Asset Management LLC acquired a new stake in PBF Energy during the 3rd quarter worth about $33,000. Financial Management Professionals Inc. acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of PBF Energy in the 1st quarter valued at about $48,000. Point72 Hong Kong Ltd acquired a new position in shares of PBF Energy in the 1st quarter valued at about $76,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of PBF Energy by 17.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 433 shares during the period. Institutional investors and hedge funds own 90.69% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PBF. TheStreet downgraded PBF Energy from a “b-” rating to a “c” rating in a report on Friday, February 17th. Wells Fargo & Company dropped their target price on PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Mizuho upped their target price on PBF Energy from $50.00 to $56.00 in a report on Friday, March 10th. StockNews.com downgraded PBF Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 15th. Finally, Morgan Stanley increased their price objective on PBF Energy from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, January 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.31.
PBF Energy Stock Up 0.4 %
PBF Energy (NYSE:PBF – Get Rating) last announced its earnings results on Thursday, February 16th. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.95 by ($0.54). The company had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $9.71 billion. PBF Energy had a return on equity of 72.79% and a net margin of 6.14%. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. Equities analysts expect that PBF Energy Inc. will post 10.44 earnings per share for the current year.
PBF Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.93%. PBF Energy’s payout ratio is currently 3.52%.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.
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