PBF Energy Inc. (PBF) Shares Sold by Cowen Inc.

Cowen Inc. lessened its stake in PBF Energy Inc. (NYSE:PBF) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,200 shares of the oil and gas company’s stock after selling 6,000 shares during the period. Cowen Inc.’s holdings in PBF Energy were worth $1,331,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. State Street Corp increased its stake in PBF Energy by 48.0% during the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after purchasing an additional 1,611,707 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in PBF Energy by 167.1% during the second quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock valued at $1,673,000 after purchasing an additional 47,041 shares during the last quarter. Cadence Capital Management LLC increased its stake in PBF Energy by 30.4% during the second quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock valued at $576,000 after purchasing an additional 6,025 shares during the last quarter. Arizona State Retirement System bought a new stake in PBF Energy during the second quarter valued at $1,030,000. Finally, Mutual of America Capital Management LLC increased its stake in PBF Energy by 21.0% during the second quarter. Mutual of America Capital Management LLC now owns 542,154 shares of the oil and gas company’s stock valued at $12,068,000 after purchasing an additional 94,034 shares during the last quarter.

Several analysts have weighed in on the stock. Goldman Sachs Group lowered shares of PBF Energy from a “neutral” rating to a “sell” rating in a research note on Tuesday, November 28th. Barclays raised shares of PBF Energy from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $28.00 to $39.00 in a report on Tuesday, November 14th. Zacks Investment Research raised shares of PBF Energy from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, November 10th. Royal Bank Of Canada reissued a “hold” rating and set a $30.00 price target on shares of PBF Energy in a report on Tuesday, November 7th. Finally, Tudor Pickering raised shares of PBF Energy from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.00.

PBF Energy Inc. (NYSE:PBF) traded up $0.60 during mid-day trading on Friday, reaching $33.40. 1,770,930 shares of the company traded hands, compared to its average volume of 2,045,001. The firm has a market capitalization of $3,609.18, a P/E ratio of 69.79, a P/E/G ratio of 1.95 and a beta of 1.46. PBF Energy Inc. has a 1-year low of $18.48 and a 1-year high of $33.75. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.22. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $4.90 billion. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. sell-side analysts expect that PBF Energy Inc. will post 1.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Monday, November 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Friday, November 10th. PBF Energy’s payout ratio is currently 57.42%.

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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.

Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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