Nationwide Fund Advisors Increases Stake in PBF Energy Inc. (PBF)
Nationwide Fund Advisors boosted its position in PBF Energy Inc. (NYSE:PBF) by 24.4% during the second quarter, Holdings Channel reports. The firm owned 59,841 shares of the company’s stock after buying an additional 11,745 shares during the period. Nationwide Fund Advisors owned about 0.06% of PBF Energy worth $1,423,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBF. Huntington National Bank bought a new stake in PBF Energy during the second quarter worth $109,000. M&T Bank Corp bought a new stake in PBF Energy during the first quarter worth $201,000. Oppenheimer & Co. Inc. bought a new stake in PBF Energy during the second quarter worth $202,000. Schonfeld Strategic Advisors LLC bought a new stake in PBF Energy during the first quarter worth $291,000. Finally, Advisory Services Network LLC raised its stake in PBF Energy by 13.9% in the second quarter. Advisory Services Network LLC now owns 9,403 shares of the company’s stock worth $224,000 after buying an additional 1,150 shares in the last quarter. Institutional investors own 99.50% of the company’s stock.
Shares of PBF Energy Inc. (NYSE:PBF) opened at 20.46 on Wednesday. The stock’s 50 day moving average is $21.97 and its 200 day moving average is $25.20. The firm’s market cap is $2.00 billion. PBF Energy Inc. has a 52 week low of $19.47 and a 52 week high of $41.75.
PBF Energy (NYSE:PBF) last posted its earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.73. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.06 billion. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities research analysts predict that PBF Energy Inc. will post ($0.29) earnings per share for the current fiscal year.
PBF has been the topic of a number of recent research reports. Piper Jaffray Cos. upped their price objective on PBF Energy from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. Barclays PLC lowered PBF Energy from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $26.00 to $19.00 in a research report on Monday, October 10th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of PBF Energy in a research report on Sunday, September 4th. JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $21.00 in a research report on Monday, July 11th. Finally, Deutsche Bank AG cut their price objective on PBF Energy from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, September 15th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.92.
In other news, insider Connor Thomas L. O acquired 10,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were purchased at an average price of $21.73 per share, for a total transaction of $217,300.00. Following the acquisition, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $1,086,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was purchased at an average price of $21.84 per share, for a total transaction of $1,092,000.00. Following the acquisition, the chief executive officer now directly owns 160,000 shares in the company, valued at $3,494,400. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by company insiders.
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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