Intech Investment Management LLC Raises Stake in PBF Energy Inc. (NYSE:PBF)

Intech Investment Management LLC raised its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 165.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 46,107 shares of the oil and gas company's stock after acquiring an additional 28,770 shares during the period. Intech Investment Management LLC's holdings in PBF Energy were worth $1,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PBF. Acadian Asset Management LLC lifted its stake in shares of PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company's stock worth $64,489,000 after purchasing an additional 347,268 shares during the period. LSV Asset Management lifted its stake in shares of PBF Energy by 2.7% in the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company's stock worth $59,409,000 after purchasing an additional 34,470 shares during the period. American Century Companies Inc. lifted its stake in shares of PBF Energy by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company's stock worth $45,712,000 after purchasing an additional 32,862 shares during the period. Private Management Group Inc. lifted its stake in shares of PBF Energy by 27.5% in the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company's stock worth $26,267,000 after purchasing an additional 183,183 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of PBF Energy by 14.8% in the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company's stock worth $29,883,000 after purchasing an additional 84,532 shares during the period. Institutional investors own 96.29% of the company's stock.

PBF Energy Price Performance

PBF traded down $0.23 during trading hours on Tuesday, hitting $31.56. The company's stock had a trading volume of 1,249,905 shares, compared to its average volume of 2,168,865. The business's 50-day moving average price is $31.53 and its 200-day moving average price is $37.48. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -12.18 and a beta of 1.56. 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 (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 the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm posted $6.61 EPS. The company's revenue for the quarter was down 21.9% on a year-over-year basis. Sell-side analysts expect that PBF Energy Inc. will post -2.79 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, November 13th. This is a boost from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's payout ratio is currently -42.47%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 805,300 shares of the business's stock in a transaction on Thursday, September 5th. The shares were acquired at an average price of $32.62 per share, for a total transaction of $26,268,886.00. Following the completion of the transaction, the insider now directly owns 20,634,898 shares of the company's stock, valued at approximately $673,110,372.76. The trade was a 4.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have acquired 4,592,400 shares of company stock worth $145,300,797. Insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PBF. Wells Fargo & Company lowered their price objective on shares of PBF Energy from $51.00 to $39.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets lowered shares of PBF Energy from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $42.00 to $35.00 in a report on Friday, October 4th. UBS Group reduced their target price on shares of PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Mizuho reduced their target price on shares of PBF Energy from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Finally, StockNews.com lowered shares of PBF Energy from a "hold" rating to a "sell" rating in a 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 company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $34.18.

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.