Great Lakes Advisors LLC Acquires Shares of 218,371 PBF Energy Inc. $PBF

by · The Cerbat Gem

Great Lakes Advisors LLC bought a new position in PBF Energy Inc. (NYSE:PBF – Free Report) in the 3rd quarter, Holdings Channel reports. The firm bought 218,371 shares of the oil and gas company’s stock, valued at approximately $6,588,000.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in PBF Energy by 13.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 23,112 shares of the oil and gas company’s stock valued at $697,000 after purchasing an additional 2,802 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of PBF Energy during the third quarter valued at approximately $3,890,000. Deseret Mutual Benefit Administrators boosted its position in shares of PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 440 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of PBF Energy by 264.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 70,312 shares during the last quarter. Finally, Hara Capital LLC raised its holdings in shares of PBF Energy by 1.4% in the third quarter. Hara Capital LLC now owns 596,369 shares of the oil and gas company’s stock worth $17,992,000 after buying an additional 8,360 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PBF Energy

In related news, SVP Trecia M. Canty sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $36.44, for a total value of $1,822,000.00. Following the completion of the transaction, the senior vice president owned 200,744 shares of the company’s stock, valued at $7,315,111.36. The trade was a 19.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Paul T. Davis sold 50,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the sale, the senior vice president owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. This represents a 20.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 894,624 shares of company stock valued at $30,997,335 over the last quarter. 5.30% of the stock is owned by insiders.

PBF Energy Stock Up 0.9%

Shares of PBF Energy stock opened at $33.21 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $41.47. The firm’s 50-day moving average is $30.69 and its two-hundred day moving average is $29.61. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -7.14, a PEG ratio of 5.82 and a beta of 0.47.

PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same quarter in the previous year, the business posted ($1.50) EPS. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, research analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PBF. Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a report on Monday, December 8th. Wall Street Zen raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. The Goldman Sachs Group raised their price target on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Scotiabank boosted their price objective on shares of PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Reduce” and an average price target of $30.14.

Get Our Latest Research Report on PBF Energy

PBF Energy Company Profile

(Free Report)

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.

See Also

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