Holocene Advisors LP Purchases New Holdings in PBF Energy Inc. (NYSE:PBF)

Holocene Advisors LP purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,673 shares of the oil and gas company's stock, valued at approximately $2,806,000. Holocene Advisors LP owned about 0.08% of PBF Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PBF. Paloma Partners Management Co bought a new position in PBF Energy in the 3rd quarter valued at $393,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in PBF Energy by 175.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,480 shares of the oil and gas company's stock valued at $510,000 after acquiring an additional 10,496 shares during the last quarter. Point72 Hong Kong Ltd increased its position in PBF Energy by 520.6% in the third quarter. Point72 Hong Kong Ltd now owns 16,700 shares of the oil and gas company's stock worth $517,000 after purchasing an additional 14,009 shares during the period. ARGA Investment Management LP raised its holdings in PBF Energy by 32.7% during the 3rd quarter. ARGA Investment Management LP now owns 37,935 shares of the oil and gas company's stock worth $1,174,000 after purchasing an additional 9,346 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its position in PBF Energy by 51.8% during the 3rd quarter. Edgestream Partners L.P. now owns 227,902 shares of the oil and gas company's stock valued at $7,054,000 after purchasing an additional 77,817 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analyst Weigh In

PBF has been the subject of several analyst reports. TD Cowen lowered their price target on shares of PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a research report on Friday, November 1st. Wells Fargo & Company dropped their target price on shares of PBF Energy from $51.00 to $39.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Tudor Pickering upgraded PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. Morgan Stanley decreased 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. Finally, Bank of America initiated coverage on PBF Energy in a research note on Thursday, October 17th. They issued an "underperform" rating and a $25.00 target price on the stock. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PBF Energy presently has a consensus rating of "Hold" and an average target price of $34.18.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 250,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was bought at an average cost of $31.78 per share, with a total value of $7,945,000.00. Following the purchase, the insider now directly owns 22,952,398 shares of the company's stock, valued at $729,427,208.44. The trade was a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 4,238,100 shares of company stock valued at $132,147,631 in the last 90 days. 5.30% of the stock is currently owned by company insiders.

PBF Energy Stock Down 1.9 %

Shares of NYSE:PBF traded down $0.58 during trading on Friday, hitting $30.22. 1,481,924 shares of the company's stock traded hands, compared to its average volume of 2,154,097. The company has a 50-day moving average price of $31.47 and a 200-day moving average price of $36.79. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -11.89 and a beta of 1.57.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $6.61 EPS. The business's quarterly revenue was down 21.9% compared to the same quarter last year. As a group, research analysts forecast that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.64%. PBF Energy's dividend payout ratio is presently -42.47%.

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.