Principal Financial Group Inc. Purchases 29,784 Shares of PBF Energy Inc. (NYSE:PBF)

Principal Financial Group Inc. lifted its position in shares of PBF Energy Inc. (NYSE:PBF) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 969,923 shares of the oil and gas company’s stock after purchasing an additional 29,784 shares during the period. Principal Financial Group Inc. owned 0.81% of PBF Energy worth $13,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of PBF Energy by 28.7% during the fourth quarter. Morgan Stanley now owns 1,352,440 shares of the oil and gas company’s stock worth $9,603,000 after purchasing an additional 301,843 shares during the period. Norges Bank bought a new position in PBF Energy during the 4th quarter worth $9,424,000. Charles Schwab Investment Management Inc. increased its stake in PBF Energy by 14.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,251,802 shares of the oil and gas company’s stock worth $8,888,000 after acquiring an additional 158,196 shares during the period. JPMorgan Chase & Co. increased its stake in PBF Energy by 63.8% during the 4th quarter. JPMorgan Chase & Co. now owns 707,638 shares of the oil and gas company’s stock worth $5,025,000 after acquiring an additional 275,508 shares during the period. Finally, Credit Suisse AG increased its stake in PBF Energy by 47.4% during the 4th quarter. Credit Suisse AG now owns 669,937 shares of the oil and gas company’s stock worth $4,758,000 after acquiring an additional 215,359 shares during the period. Institutional investors own 67.78% of the company’s stock.

Shares of PBF stock opened at $16.65 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of -5.42 and a beta of 3.00. The company has a quick ratio of 0.75, a current ratio of 1.43 and a debt-to-equity ratio of 2.17. The company’s 50 day simple moving average is $15.22. PBF Energy Inc. has a 12 month low of $4.06 and a 12 month high of $18.78.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 29th. The oil and gas company reported ($2.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.57) by ($0.04). The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.62 billion. PBF Energy had a negative return on equity of 65.35% and a negative net margin of 2.49%. On average, sell-side analysts anticipate that PBF Energy Inc. will post -5.01 EPS for the current fiscal year.

PBF has been the topic of a number of research analyst reports. Piper Sandler raised their target price on PBF Energy from $8.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, April 1st. Credit Suisse Group raised PBF Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $8.75 to $17.00 in a report on Monday, April 12th. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating and set a $17.00 target price on the stock in a report on Friday, March 5th. Barclays raised their target price on PBF Energy from $8.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, March 8th. Finally, Morgan Stanley raised their price objective on PBF Energy from $9.00 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 11th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.91.

PBF Energy Company Profile

PBF Energy Inc, together with 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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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