Paragon Capital Management Ltd Invests $282,000 in PBF Energy Inc. (NYSE:PBF)

Paragon Capital Management Ltd acquired a new stake in PBF Energy Inc. (NYSE:PBF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,893 shares of the oil and gas company’s stock, valued at approximately $282,000.

A number of other institutional investors also recently bought and sold shares of PBF. Tucker Asset Management LLC purchased a new stake in PBF Energy during the 1st quarter valued at about $34,000. IFP Advisors Inc boosted its holdings in shares of PBF Energy by 250.0% in the 1st quarter. IFP Advisors Inc now owns 1,057 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 755 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of PBF Energy in the 1st quarter valued at $48,000. Spire Wealth Management grew its position in PBF Energy by 41.0% during the 1st quarter. Spire Wealth Management now owns 2,207 shares of the oil and gas company’s stock worth $96,000 after purchasing an additional 642 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of PBF Energy during the 1st quarter valued at about $76,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $0.94 during trading hours on Friday, reaching $53.88. 4,046,346 shares of the company’s stock were exchanged, compared to its average volume of 2,325,245. PBF Energy Inc. has a 1 year low of $27.00 and a 1 year high of $55.42. The company has a market capitalization of $6.66 billion, a P/E ratio of 2.25 and a beta of 1.92. The company has a quick ratio of 0.81, a current ratio of 1.47 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $46.98 and a two-hundred day moving average of $42.16.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.07. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $8.93 billion. PBF Energy had a net margin of 7.36% and a return on equity of 42.15%. PBF Energy’s revenue was down 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.58 EPS. As a group, research analysts predict that PBF Energy Inc. will post 10.27 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.48%. The ex-dividend date was Wednesday, August 16th. PBF Energy’s payout ratio is currently 3.33%.

Analysts Set New Price Targets

PBF has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on PBF Energy from $58.00 to $62.00 in a research note on Friday, August 4th. The Goldman Sachs Group lifted their price objective on shares of PBF Energy from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, September 1st. Wells Fargo & Company lifted their price objective on shares of PBF Energy from $56.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Mizuho lifted their price target on PBF Energy from $45.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, August 16th. Finally, UBS Group cut their price objective on PBF Energy from $53.00 to $48.00 in a research report on Friday, June 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.67.

PBF Energy Company Profile

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.