PBF Energy Inc. (NYSE:PBF) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. grew its position in shares of PBF Energy Inc. (NYSE:PBF) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 993,301 shares of the oil and gas company’s stock after purchasing an additional 32,862 shares during the period. American Century Companies Inc. owned approximately 0.84% of PBF Energy worth $45,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PBF. GAMMA Investing LLC lifted its stake in PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of PBF Energy in the second quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in shares of PBF Energy in the first quarter valued at approximately $27,000. Creekmur Asset Management LLC acquired a new position in shares of PBF Energy in the fourth quarter valued at approximately $29,000. Finally, CWM LLC increased its stake in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after buying an additional 569 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Stock Performance

NYSE PBF opened at $32.52 on Tuesday. The company has a fifty day moving average of $36.31 and a two-hundred day moving average of $45.98. The company has a market capitalization of $3.86 billion, a PE ratio of 2.25 and a beta of 1.56. PBF Energy Inc. has a 1 year low of $30.61 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts expect that PBF Energy Inc. will post 1.25 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.08%. PBF Energy’s payout ratio is 6.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wolfe Research assumed coverage on PBF Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. decreased their price objective on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Scotiabank cut their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley decreased their price target on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.91.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 100,000 shares of PBF Energy stock in a transaction dated Monday, June 24th. The stock was acquired at an average cost of $44.31 per share, with a total value of $4,431,000.00. Following the completion of the acquisition, the insider now owns 17,307,598 shares of the company’s stock, valued at $766,899,667.38. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired a total of 3,049,500 shares of company stock worth $109,399,914 in the last 90 days. 5.30% of the stock is owned by insiders.

PBF Energy 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.