Magnetar Financial LLC Buys New Shares in PBF Energy Inc. (NYSE:PBF)

Magnetar Financial LLC purchased a new stake in PBF Energy Inc. (NYSE:PBF) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 24,222 shares of the oil and gas company’s stock, valued at approximately $1,394,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its stake in PBF Energy by 10.4% in the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 172 shares during the last quarter. Fifth Third Bancorp lifted its stake in PBF Energy by 30.4% in the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 222 shares during the last quarter. GAMMA Investing LLC lifted its stake in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the last quarter. Center For Asset Management LLC lifted its stake in PBF Energy by 3.9% in the first quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 228 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in PBF Energy by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

PBF Energy stock traded up $0.22 during midday trading on Friday, hitting $40.46. The company’s stock had a trading volume of 1,837,927 shares, compared to its average volume of 1,859,921. PBF Energy Inc. has a 1-year low of $37.62 and a 1-year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. The company has a 50-day moving average price of $44.17 and a two-hundred day moving average price of $49.12. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 2.80 and a beta of 1.60.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The business had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.29 billion. As a group, sell-side analysts predict that PBF Energy Inc. will post 3.19 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 51,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $46.19 per share, with a total value of $2,355,690.00. Following the acquisition, the insider now directly owns 14,875,198 shares in the company, valued at $687,085,395.62. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 2,091,100 shares of company stock valued at $93,004,617 in the last ninety days. 5.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler cut their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Scotiabank cut their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group cut their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, TD Cowen cut their target price on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.30.

PBF Energy Company Profile

PBF Energy Inc, through 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.