Highland Peak Capital LLC Invests $2.33 Million in PBF Energy Inc. (NYSE:PBF)

Highland Peak Capital LLC bought a new stake in PBF Energy Inc. (NYSE:PBF) in the 2nd quarter, Holdings Channel reports. The fund bought 50,545 shares of the oil and gas company’s stock, valued at approximately $2,326,000. PBF Energy accounts for 0.8% of Highland Peak Capital LLC’s holdings, making the stock its 13th biggest position.

A number of other large investors have also added to or reduced their stakes in PBF. Hennessy Advisors Inc. increased its holdings in PBF Energy by 18.4% during the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company’s stock worth $33,329,000 after purchasing an additional 89,900 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of PBF Energy by 763.4% in the first quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock worth $12,008,000 after buying an additional 184,426 shares during the last quarter. Norges Bank acquired a new stake in PBF Energy in the fourth quarter valued at $54,832,000. Acadian Asset Management LLC boosted its stake in PBF Energy by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after acquiring an additional 48,525 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in PBF Energy during the 1st quarter worth $1,394,000. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Stock Down 0.3 %

PBF Energy stock opened at $32.52 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy Inc. has a one year low of $30.61 and a one year high of $62.88. The company has a 50-day simple moving average of $36.31 and a 200-day simple moving average of $45.98. The firm has a market capitalization of $3.86 billion, a P/E ratio of 2.25 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The firm had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. PBF Energy’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the company posted $2.29 EPS. As a group, equities analysts expect that PBF Energy Inc. will post 1.25 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is currently 6.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PBF. Piper Sandler reduced their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Wells Fargo & Company lowered their price target on PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Scotiabank dropped their price target on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Mizuho lowered their target price on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.91.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital acquired 365,200 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $43.84 per share, for a total transaction of $16,010,368.00. Following the completion of the purchase, the insider now directly owns 16,607,598 shares in the company, valued at $728,077,096.32. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 3,049,500 shares of company stock worth $109,399,914. 5.30% of the stock is owned by company insiders.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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 from crude oil.