Y Intercept Hong Kong Ltd Acquires 22,852 Shares of PBF Energy Inc. (NYSE:PBF)

Y Intercept Hong Kong Ltd boosted its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 108.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,902 shares of the oil and gas company's stock after purchasing an additional 22,852 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in PBF Energy were worth $1,359,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management acquired a new stake in shares of PBF Energy in the third quarter worth $694,000. Intech Investment Management LLC raised its holdings in PBF Energy by 165.9% in the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company's stock worth $1,427,000 after acquiring an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D lifted its position in PBF Energy by 44.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company's stock worth $1,839,000 after acquiring an additional 18,173 shares during the last quarter. Symmetry Investments LP bought a new stake in PBF Energy during the second quarter valued at about $2,464,000. Finally, Bridgewater Associates LP grew its position in shares of PBF Energy by 40.5% in the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company's stock valued at $2,896,000 after purchasing an additional 26,952 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 265,000 shares of the stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $31.87 per share, for a total transaction of $8,445,550.00. Following the completion of the transaction, the insider now directly owns 23,217,398 shares of the company's stock, valued at approximately $739,938,474.26. The trade was a 1.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 3,568,100 shares of company stock worth $111,183,331 over the last three months. Company insiders own 5.30% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on PBF. JPMorgan Chase & Co. cut PBF Energy from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, September 9th. Tudor Pickering upgraded PBF Energy to a "strong sell" rating in a report on Monday, September 9th. BMO Capital Markets lowered PBF Energy from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Finally, TD Cowen cut their price target on PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of "Hold" and an average target price of $33.27.

PBF Energy Stock Performance

Shares of PBF traded down $0.99 on Thursday, reaching $29.72. 1,837,205 shares of the stock traded hands, compared to its average volume of 2,145,962. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -11.49 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88. The stock's 50-day moving average price is $31.41 and its 200-day moving average price is $36.17.

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

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.70%. This is a boost from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy's dividend payout ratio is -42.47%.

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.