Sirios Capital Management L P acquired a new stake in shares of PBF Energy Inc (NYSE:PBF) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 761,868 shares of the oil and gas company’s stock, valued at approximately $38,025,000. PBF Energy makes up approximately 2.0% of Sirios Capital Management L P’s portfolio, making the stock its 22nd largest holding. Sirios Capital Management L P owned 0.64% of PBF Energy at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kepos Capital LP grew its stake in shares of PBF Energy by 17.7% in the 3rd quarter. Kepos Capital LP now owns 139,605 shares of the oil and gas company’s stock valued at $6,968,000 after buying an additional 20,958 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of PBF Energy by 56.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,025 shares of the oil and gas company’s stock valued at $849,000 after buying an additional 6,159 shares during the period. First Foundation Advisors purchased a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $207,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $326,000. Finally, Hsbc Holdings PLC grew its stake in shares of PBF Energy by 47.4% in the 3rd quarter. Hsbc Holdings PLC now owns 8,116 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 2,610 shares during the period. 93.18% of the stock is owned by institutional investors.
Several research firms have recently weighed in on PBF. Morgan Stanley dropped their price target on shares of PBF Energy from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, November 20th. Credit Suisse Group increased their price objective on shares of PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 5th. Citigroup increased their price objective on shares of PBF Energy from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, September 7th. Goldman Sachs Group raised shares of PBF Energy from a “sell” rating to a “neutral” rating in a research report on Friday, September 7th. Finally, Wells Fargo & Co lowered their price objective on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. PBF Energy currently has an average rating of “Hold” and a consensus price target of $45.25.
PBF Energy (NYSE:PBF) last released its earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.10. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. On average, equities research analysts anticipate that PBF Energy Inc will post 2.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.19%. PBF Energy’s payout ratio is 105.26%.
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PBF Energy Company Profile
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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