Luminus Management LLC cut its stake in PBF Energy Inc (NYSE:PBF) by 31.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,287 shares of the oil and gas company’s stock after selling 40,347 shares during the quarter. Luminus Management LLC owned 0.07% of PBF Energy worth $4,406,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in PBF. Itau Unibanco Holding S.A. bought a new stake in shares of PBF Energy in the 2nd quarter valued at about $132,000. Point72 Hong Kong Ltd bought a new stake in shares of PBF Energy in the 2nd quarter valued at about $145,000. Harvest Fund Management Co. Ltd increased its stake in shares of PBF Energy by 172.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,908 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 2,475 shares during the last quarter. Sun Life Financial INC bought a new stake in shares of PBF Energy in the 2nd quarter valued at about $200,000. Finally, First Foundation Advisors bought a new stake in shares of PBF Energy in the 3rd quarter valued at about $207,000. 93.18% of the stock is owned by institutional investors.
PBF has been the subject of a number of recent analyst reports. Goldman Sachs Group raised PBF Energy from a “sell” rating to a “neutral” rating in a research note on Friday, September 7th. Citigroup increased their target price on PBF Energy from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, September 7th. Credit Suisse Group increased their target price on PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $54.00 target price on PBF Energy and gave the stock a “sell” rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. PBF Energy currently has an average rating of “Hold” and an average target price of $45.25.
NYSE PBF opened at $32.19 on Friday. PBF Energy Inc has a 52-week low of $28.25 and a 52-week high of $53.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.79 and a quick ratio of 0.83. The company has a market cap of $3.86 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.71 and a beta of 1.46.
PBF Energy (NYSE:PBF) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the prior year, the business earned $1.44 EPS. PBF Energy’s revenue for the quarter was up 39.6% compared to the same quarter last year. As a group, sell-side analysts expect that PBF Energy Inc will post 2.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.73%. PBF Energy’s payout ratio is 105.26%.
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About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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