BNP Paribas Arbitrage SA raised its stake in PBF Energy Inc. (NYSE:PBF) by 68.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,809 shares of the oil and gas company’s stock after purchasing an additional 47,358 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.11% of PBF Energy worth $3,225,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. World Asset Management Inc purchased a new position in shares of PBF Energy in the 3rd quarter valued at $240,000. Principal Financial Group Inc. increased its stake in PBF Energy by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 471,124 shares of the oil and gas company’s stock worth $13,007,000 after buying an additional 2,107 shares during the period. New Amsterdam Partners LLC NY increased its stake in PBF Energy by 28.0% during the 3rd quarter. New Amsterdam Partners LLC NY now owns 408,882 shares of the oil and gas company’s stock worth $11,289,000 after buying an additional 89,545 shares during the period. Chicago Equity Partners LLC increased its position in shares of PBF Energy by 213.5% in the 3rd quarter. Chicago Equity Partners LLC now owns 73,175 shares of the oil and gas company’s stock worth $2,020,000 after purchasing an additional 49,835 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of PBF Energy by 9.4% in the 3rd quarter. Victory Capital Management Inc. now owns 428,332 shares of the oil and gas company’s stock worth $11,826,000 after purchasing an additional 36,900 shares during the last quarter.
Several research firms have recently weighed in on PBF. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Citigroup Inc. decreased their price target on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a report on Monday, August 7th. Cowen and Company reaffirmed a “buy” rating and issued a $30.00 price target on shares of PBF Energy in a report on Thursday, August 17th. Zacks Investment Research lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, TheStreet raised shares of PBF Energy from a “c” rating to a “b” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. PBF Energy presently has a consensus rating of “Hold” and an average price target of $28.00.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. analysts predict that PBF Energy Inc. will post 1.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, November 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.66%. PBF Energy’s dividend payout ratio is currently 60.00%.
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About PBF Energy
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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