Knightsbridge Asset Management LLC cut its holdings in shares of PBF Energy Inc (NYSE:PBF) by 82.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,164 shares of the oil and gas company’s stock after selling 277,735 shares during the quarter. PBF Energy comprises approximately 1.3% of Knightsbridge Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Knightsbridge Asset Management LLC owned 0.05% of PBF Energy worth $2,062,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of PBF Energy by 3.0% in the fourth quarter. BlackRock Inc. now owns 9,293,993 shares of the oil and gas company’s stock valued at $329,471,000 after buying an additional 268,354 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PBF Energy by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 2,018,212 shares of the oil and gas company’s stock worth $55,722,000 after purchasing an additional 50,806 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of PBF Energy by 4.6% in the third quarter. Russell Investments Group Ltd. now owns 1,586,499 shares of the oil and gas company’s stock worth $43,801,000 after acquiring an additional 70,456 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of PBF Energy by 39.4% in the third quarter. Deprince Race & Zollo Inc. now owns 1,209,580 shares of the oil and gas company’s stock worth $33,397,000 after acquiring an additional 341,675 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of PBF Energy by 12,300.4% in the fourth quarter. Acadian Asset Management LLC now owns 1,110,832 shares of the oil and gas company’s stock worth $39,380,000 after acquiring an additional 1,101,874 shares during the last quarter.
A number of brokerages have recently commented on PBF. Cowen downgraded PBF Energy from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $30.00 to $31.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded PBF Energy from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Citigroup upped their target price on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research raised PBF Energy from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Saturday, December 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $34.00 price target on shares of PBF Energy in a research note on Tuesday, January 30th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. PBF Energy has an average rating of “Hold” and an average price target of $34.40.
PBF Energy Inc (PBF) traded up $0.32 on Wednesday, hitting $30.95. The stock had a trading volume of 1,664,087 shares, compared to its average volume of 2,131,613. The stock has a market capitalization of $3,390.00, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.89 and a beta of 1.24. PBF Energy Inc has a one year low of $18.48 and a one year high of $37.01. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.57 and a quick ratio of 0.66.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.25). The firm had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $5.23 billion. PBF Energy had a return on equity of 4.97% and a net margin of 1.91%. PBF Energy’s revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.71) earnings per share. equities analysts expect that PBF Energy Inc will post 3.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Tuesday, February 27th. PBF Energy’s dividend payout ratio (DPR) is presently 35.29%.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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