Susquehanna Fundamental Investments LLC Cuts Position in PBF Energy Inc. (NYSE:PBF)

Susquehanna Fundamental Investments LLC decreased its position in PBF Energy Inc. (NYSE:PBF) by 83.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the oil and gas company’s stock after selling 48,351 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in PBF Energy were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of PBF Energy in the 1st quarter worth $27,000. National Bank of Canada FI purchased a new position in shares of PBF Energy in the 2nd quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy in the 4th quarter worth about $29,000. Finally, CWM LLC raised its position in shares of PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 569 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 50,000 shares of PBF Energy stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the transaction, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have bought a total of 2,952,300 shares of company stock valued at $97,300,026 in the last 90 days. Insiders own 5.30% of the company’s stock.

PBF Energy Stock Up 8.0 %

NYSE:PBF opened at $33.70 on Friday. 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 Inc. has a 1-year low of $30.17 and a 1-year high of $62.88. The company has a 50-day moving average of $34.29 and a 200 day moving average of $44.34. The firm has a market cap of $3.95 billion, a PE ratio of 2.33 and a beta of 1.56.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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). The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. PBF Energy’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 earnings per share. As a group, research analysts anticipate that PBF Energy Inc. will post 0.35 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Wall Street Analysts Forecast Growth

PBF has been the topic of several analyst reports. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $53.00 to $40.00 in a research note on Wednesday. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Morgan Stanley lowered their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Scotiabank cut their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, The Goldman Sachs Group reduced their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.73.

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.