Old West Investment Management LLC decreased its holdings in PBF Energy Inc. (NYSE:PBF) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,361 shares of the oil and gas company’s stock after selling 43,098 shares during the quarter. PBF Energy comprises about 6.3% of Old West Investment Management LLC’s portfolio, making the stock its 2nd biggest position. Old West Investment Management LLC owned approximately 0.40% of PBF Energy worth $12,075,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of PBF Energy by 48.0% in the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after purchasing an additional 1,611,707 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of PBF Energy by 167.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock worth $1,673,000 after purchasing an additional 47,041 shares in the last quarter. Cadence Capital Management LLC boosted its position in shares of PBF Energy by 30.4% in the 2nd quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock worth $576,000 after purchasing an additional 6,025 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of PBF Energy in the 2nd quarter worth $1,030,000. Finally, Mutual of America Capital Management LLC boosted its position in shares of PBF Energy by 21.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 542,154 shares of the oil and gas company’s stock worth $12,068,000 after purchasing an additional 94,034 shares in the last quarter.
A number of analysts have commented on the company. Goldman Sachs Group cut PBF Energy from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 28th. Barclays raised PBF Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $39.00 in a research report on Tuesday, November 14th. Zacks Investment Research raised PBF Energy from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Friday, November 10th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $30.00 price target on shares of PBF Energy in a research report on Tuesday, November 7th. Finally, Tudor Pickering raised PBF Energy from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $28.00.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.22. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $4.90 billion. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. equities research analysts predict that PBF Energy Inc. will post 1.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.73%. PBF Energy’s payout ratio is currently 57.42%.
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PBF Energy Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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