BNP PARIBAS ASSET MANAGEMENT Holding S.A. Invests $1.67 Million in PBF Energy Inc. (NYSE:PBF)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,371 shares of the oil and gas company's stock, valued at approximately $1,674,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. increased its position in PBF Energy by 18.4% in the 1st quarter. Hennessy Advisors Inc. now owns 578,934 shares of the oil and gas company's stock valued at $33,329,000 after acquiring an additional 89,900 shares during the period. Van ECK Associates Corp increased its holdings in PBF Energy by 763.4% in the first quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company's stock valued at $12,008,000 after purchasing an additional 184,426 shares during the period. Norges Bank bought a new position in PBF Energy during the 4th quarter worth $54,832,000. Acadian Asset Management LLC grew its position in shares of PBF Energy by 4.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company's stock valued at $60,689,000 after buying an additional 48,525 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at about $1,394,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $58.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 2nd. Scotiabank dropped 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 report on Friday, July 12th. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $57.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, July 1st. Wells Fargo & Company decreased their price target on shares of PBF Energy from $67.00 to $66.00 and set an "overweight" rating for the company in a research note on Thursday, June 6th. Finally, Piper Sandler reduced their target price on PBF Energy from $54.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, June 14th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $53.80.

PBF Energy Stock Performance

NYSE PBF traded up $0.71 during trading on Monday, hitting $34.06. 2,593,300 shares of the company's stock traded hands, compared to its average volume of 2,090,396. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 2.36 and a beta of 1.60. PBF Energy Inc. has a 12-month low of $32.17 and a 12-month high of $62.88. The business has a 50 day moving average of $39.08 and a 200-day moving average of $47.15.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm's quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. As a group, equities research analysts anticipate that PBF Energy Inc. will post 1.61 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy's payout ratio is presently 6.92%.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 51,000 shares of the business's stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $46.19 per share, for a total transaction of $2,355,690.00. Following the completion of the transaction, the insider now owns 14,875,198 shares of the company's stock, valued at $687,085,395.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 2,364,100 shares of company stock worth $103,048,517 over the last ninety days. Company insiders own 5.30% of the company's stock.

PBF Energy Company 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.