Point72 Asia Singapore Pte. Ltd. Acquires 10,496 Shares of PBF Energy Inc. (NYSE:PBF)

Point72 Asia Singapore Pte. Ltd. lifted its stake in PBF Energy Inc. (NYSE:PBF) by 175.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,480 shares of the oil and gas company’s stock after acquiring an additional 10,496 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in PBF Energy were worth $510,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. National Bank of Canada FI purchased a new stake in PBF Energy during the 2nd quarter worth about $26,000. CWM LLC increased its position in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy in the third quarter worth about $59,000. EverSource Wealth Advisors LLC lifted its holdings in shares of PBF Energy by 152.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,252 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,027 shares during the period. 96.29% of the stock is owned by institutional investors.

PBF Energy Price Performance

Shares of PBF Energy stock opened at $32.71 on Tuesday. The business’s 50-day moving average price is $31.45 and its 200-day moving average price is $37.01. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm’s revenue was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.61 earnings per share. Analysts expect that PBF Energy Inc. will post -2.86 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is presently -42.47%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 670,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of $31.29 per share, with a total value of $20,964,300.00. Following the purchase, the insider now directly owns 22,527,398 shares of the company’s stock, valued at approximately $704,882,283.42. This trade represents a 3.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired 4,743,400 shares of company stock valued at $149,170,517 over the last three months. Insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PBF shares. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. TD Cowen decreased their price target on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, November 1st. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Wells Fargo & Company reduced their target price on PBF Energy from $51.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and an average price target of $34.18.

PBF Energy Company Profile

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.