Wells Fargo & Company MN lifted its holdings in PBF Energy Inc. (NYSE:PBF) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,655,359 shares of the oil and gas company’s stock after buying an additional 12,073 shares during the period. Wells Fargo & Company MN owned about 1.51% of PBF Energy worth $36,849,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its position in shares of PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after buying an additional 1,580 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of PBF Energy in the first quarter worth $113,000. Creative Planning boosted its position in shares of PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after buying an additional 2,503 shares during the period. Huntington National Bank acquired a new stake in shares of PBF Energy in the second quarter worth $126,000. Finally, Sei Investments Co. boosted its position in shares of PBF Energy by 391.7% in the second quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock worth $134,000 after buying an additional 4,814 shares during the period.
Shares of PBF Energy Inc. (NYSE PBF) opened at 25.82 on Wednesday. The firm’s market cap is $2.83 billion. The company’s 50-day moving average price is $22.92 and its 200-day moving average price is $21.98. PBF Energy Inc. has a 52-week low of $18.48 and a 52-week high of $30.98.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.76 billion. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. During the same quarter last year, the company posted $0.14 EPS. Equities analysts expect that PBF Energy Inc. will post $0.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, August 11th. PBF Energy’s dividend payout ratio (DPR) is presently -363.64%.
Several analysts have recently commented on PBF shares. Citigroup Inc. decreased their target price on PBF Energy from $37.50 to $33.50 and set a “buy” rating for the company in a research report on Monday, July 17th. Scotiabank set a $24.00 target price on PBF Energy and gave the stock a “buy” rating in a research report on Monday, June 26th. Cowen and Company reaffirmed a “buy” rating and issued a $30.00 target price on shares of PBF Energy in a research report on Thursday, August 17th. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, BidaskClub raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. PBF Energy currently has an average rating of “Hold” and an average price target of $23.67.
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PBF Energy Company Profile
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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