Trek Financial LLC Buys New Stake in PBF Energy Inc. $PBF

Trek Financial LLC acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,957 shares of the oil and gas company’s stock, valued at approximately $612,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after acquiring an additional 454,731 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of PBF Energy by 198.0% during the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock valued at $16,944,000 after purchasing an additional 236,418 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in PBF Energy during the 1st quarter valued at about $8,527,000. Finally, Allspring Global Investments Holdings LLC lifted its position in PBF Energy by 361.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock valued at $8,718,000 after purchasing an additional 148,124 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

PBF has been the topic of several research reports. Mizuho raised their target price on PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. The Goldman Sachs Group upped their target price on shares of PBF Energy from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, October 9th. Citigroup increased their price objective on shares of PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. BMO Capital Markets reaffirmed a “market perform” rating on shares of PBF Energy in a report on Thursday, October 1st. Finally, Freedom Broker raised shares of PBF Energy from a “sell” rating to a “hold” rating and upped their price target for the company from $55.00 to $63.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.50.

Insider Activity

In other news, CAO Steven John Andriola sold 2,522 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $76.69, for a total value of $193,412.18. Following the transaction, the chief accounting officer directly owned 16,659 shares in the company, valued at approximately $1,277,578.71. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Control Empresarial De Capital sold 170,000 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $88.03, for a total transaction of $14,965,100.00. Following the completion of the transaction, the insider directly owned 13,326,127 shares in the company, valued at $1,173,098,959.81. This represents a 1.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,864,531 shares of company stock valued at $214,420,159. 5.50% of the stock is currently owned by company insiders.

PBF Energy Price Performance

Shares of PBF stock opened at $77.76 on Wednesday. The stock has a 50 day moving average price of $77.56 and a 200 day moving average price of $53.94. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $92.46. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.96 and a current ratio of 1.59. The firm has a market capitalization of $9.22 billion, a P/E ratio of 3.47, a P/E/G ratio of 0.08 and a beta of 0.15.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 EPS for the quarter, beating the consensus estimate of $11.12 by $1.66. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the company posted ($0.52) EPS. PBF Energy’s quarterly revenue was up 58.6% on a year-over-year basis. As a group, sell-side analysts predict that PBF Energy Inc. will post 25.17 earnings per share for the current year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.3250 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.2750. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 12th. PBF Energy’s payout ratio is presently 4.91%.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.