Y Intercept Hong Kong Ltd Has $3.42 Million Stock Position in PBF Energy Inc. $PBF

Y Intercept Hong Kong Ltd boosted its position in PBF Energy Inc. (NYSE:PBF) by 71.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 71,796 shares of the oil and gas company’s stock after buying an additional 29,814 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PBF Energy were worth $3,419,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Leonteq Securities AG acquired a new position in PBF Energy during the first quarter worth $33,000. Torren Management LLC bought a new position in PBF Energy in the fourth quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in PBF Energy in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC raised its holdings in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy in the fourth quarter worth $57,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of NYSE PBF traded down $1.19 during trading on Tuesday, hitting $48.07. The company had a trading volume of 588,915 shares, compared to its average volume of 3,375,248. The stock has a 50 day simple moving average of $41.89 and a 200 day simple moving average of $38.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The firm has a market capitalization of $5.69 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. PBF Energy Inc. has a 12 month low of $21.24 and a 12 month high of $52.18.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the previous year, the business posted ($3.53) earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, analysts anticipate that PBF Energy Inc. will post 8.55 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 570,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the sale, the insider owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,591,570 shares of company stock valued at $116,278,586 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PBF has been the topic of several analyst reports. Citigroup lifted their target price on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. TD Cowen raised PBF Energy from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $36.00 to $39.00 in a report on Monday, June 29th. Wall Street Zen upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group began coverage on PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on shares of PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and an average target price of $36.69.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.