Denali Advisors LLC Raises Stake in PBF Energy Inc. (NYSE:PBF)

Denali Advisors LLC lifted its position in shares of PBF Energy Inc. (NYSE:PBF) by 34.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,963 shares of the oil and gas company’s stock after buying an additional 27,200 shares during the quarter. PBF Energy makes up 1.3% of Denali Advisors LLC’s investment portfolio, making the stock its 28th largest position. Denali Advisors LLC owned about 0.09% of PBF Energy worth $4,922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings 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 purchasing an additional 224 shares during the period. National Bank of Canada FI purchased a new stake in PBF Energy in the second quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in PBF Energy in the first quarter valued at approximately $27,000. Creekmur Asset Management LLC purchased a new stake in PBF Energy in the fourth quarter valued at approximately $29,000. Finally, CWM LLC grew its holdings in PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Trading Down 0.3 %

NYSE PBF opened at $32.52 on Tuesday. The company’s fifty day simple moving average is $36.31 and its 200-day simple moving average is $45.98. PBF Energy Inc. has a 52 week low of $30.61 and a 52 week high of $62.88. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.86 billion, a P/E ratio of 2.25 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 earnings per share. Equities research analysts predict that PBF Energy Inc. will post 1.25 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.08%. PBF Energy’s payout ratio is 6.92%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 670,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $31.29 per share, for a total transaction of $20,964,300.00. Following the completion of the purchase, the insider now directly owns 22,527,398 shares in the company, valued at $704,882,283.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 3,049,500 shares of company stock worth $109,399,914 over the last 90 days. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PBF shares. UBS Group lowered their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Scotiabank decreased their price objective 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. Finally, Wolfe Research initiated coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $49.91.

PBF Energy 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.