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

Point72 Asia Singapore Pte. Ltd. increased its position in PBF Energy Inc. (NYSE:PBF) by 175.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,480 shares of the oil and gas company’s stock after buying 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 hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dakota Wealth Management bought a new position in PBF Energy in the third quarter worth approximately $694,000. State of New Jersey Common Pension Fund D raised its position in shares of PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after purchasing an additional 18,173 shares during the period. Symmetry Investments LP bought a new position in shares of PBF Energy in the 2nd quarter worth $2,464,000. Stratos Wealth Advisors LLC grew its position in PBF Energy by 105.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 43,709 shares of the oil and gas company’s stock valued at $1,353,000 after purchasing an additional 22,470 shares during the period. Finally, Intech Investment Management LLC increased its stake in PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after purchasing an additional 28,770 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PBF. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Bank of America began coverage on PBF Energy in a research note on Thursday, October 17th. They set an “underperform” rating and a $25.00 price target for the company. Morgan Stanley lowered their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and cut their target price for the company from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.18.

PBF Energy Stock Up 3.9 %

NYSE PBF opened at $32.71 on Tuesday. The business’s fifty day moving average is $31.45 and its 200-day moving average is $37.01. 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 Inc. has a one year low of $27.94 and a one year high of $62.88.

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

PBF Energy Increases Dividend

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

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 670,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $31.29 per share, with a total value of $20,964,300.00. Following the acquisition, the insider now owns 22,527,398 shares in the company, valued at $704,882,283.42. The trade was a 3.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have bought 4,743,400 shares of company stock worth $149,170,517. Insiders own 6.20% of the company’s stock.

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.