Ontario Teachers Pension Plan Board grew its stake in shares of PBF Energy Inc. (NYSE:PBF – Free Report) by 840.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,415 shares of the oil and gas company’s stock after acquiring an additional 77,228 shares during the period. Ontario Teachers Pension Plan Board owned 0.07% of PBF Energy worth $3,747,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of PBF Energy by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,185 shares of the oil and gas company’s stock valued at $658,000 after acquiring an additional 274 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of PBF Energy by 0.7% in the 4th quarter. Martingale Asset Management L P now owns 43,673 shares of the oil and gas company’s stock valued at $1,781,000 after purchasing an additional 297 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of PBF Energy by 6.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,136 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 352 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in shares of PBF Energy by 6.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,136 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 352 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of PBF Energy by 4.3% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 9,920 shares of the oil and gas company’s stock valued at $430,000 after purchasing an additional 405 shares during the last quarter. 89.56% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on PBF shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $50.00 price objective on shares of PBF Energy in a research note on Wednesday, July 19th. UBS Group cut their target price on shares of PBF Energy from $53.00 to $48.00 in a research report on Friday, June 30th. TheStreet raised shares of PBF Energy from a “c” rating to a “b-” rating in a research report on Tuesday, May 16th. Mizuho boosted their target price on shares of PBF Energy from $45.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 16th. Finally, Piper Sandler boosted their target price on shares of PBF Energy from $58.00 to $62.00 in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Moderate Buy” and an average price target of $53.20.
PBF Energy Price Performance
PBF Energy stock traded down $0.98 during trading hours on Wednesday, hitting $53.52. 950,363 shares of the stock were exchanged, compared to its average volume of 2,649,492. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 1.47. The stock has a market capitalization of $6.61 billion, a P/E ratio of 2.27 and a beta of 1.92. PBF Energy Inc. has a 12 month low of $27.00 and a 12 month high of $55.42. The business’s 50-day moving average is $46.17 and its two-hundred day moving average is $41.93.
PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.07. PBF Energy had a net margin of 7.36% and a return on equity of 42.15%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $8.93 billion. During the same period in the prior year, the business posted $10.58 earnings per share. PBF Energy’s revenue was down 34.9% compared to the same quarter last year. Equities research analysts expect that PBF Energy Inc. will post 10.15 EPS for the current fiscal year.
PBF Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.80 annualized dividend and a yield of 1.49%. PBF Energy’s dividend payout ratio is currently 3.33%.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.
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