Entropy Technologies LP Purchases New Position in PBF Energy Inc. $PBF

Entropy Technologies LP acquired 17,548 shares of PBF Energy Inc., valued at $380,000, during the 2nd quarter. Other institutional investors also modified their holdings. PBF Energy's stock opened at $34.38, with a market cap of $3.98 billion. The company reported quarterly earnings of ($0.52) per share, beating estimates. Analysts have mixed ratings, with a consensus of "Strong Sell." PBF Energy announced a quarterly dividend of $0.275 per share, payable on November 26th.

Entropy Technologies LP purchased a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,548 shares of the oil and gas company's stock, valued at approximately $380,000.

Leading Oil Refiner's Stock Climbs Despite Market Volatility

Several other institutional investors have also modified their holdings of PBF. CWM LLC grew its position in shares of PBF Energy by 290.9% in the 1st quarter. CWM LLC now owns 5,414 shares of the oil and gas company's stock valued at $103,000 after buying an additional 4,029 shares during the last quarter. Victory Capital Management Inc. boosted its stake in PBF Energy by 163.6% in the first quarter. Victory Capital Management Inc. now owns 125,435 shares of the oil and gas company's stock valued at $2,395,000 after acquiring an additional 77,858 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of PBF Energy during the first quarter worth about $364,000. Cetera Investment Advisers increased its position in shares of PBF Energy by 22.5% during the first quarter. Cetera Investment Advisers now owns 45,659 shares of the oil and gas company's stock worth $872,000 after purchasing an additional 8,378 shares in the last quarter. Finally, TD Asset Management Inc acquired a new stake in shares of PBF Energy during the first quarter worth about $1,339,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Trading Down 1.0%

NYSE:PBF opened at $34.38 on Wednesday. The firm has a market cap of $3.98 billion, a P/E ratio of -7.39 and a beta of 0.79. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The stock's 50 day simple moving average is $32.96 and its 200-day simple moving average is $26.87. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $41.47.

Valero Has The Value Proposition Energy Investors Need

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same period last year, the company earned ($1.50) earnings per share. The company's revenue for the quarter was down 8.7% on a year-over-year basis. Equities analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. PBF Energy's dividend payout ratio (DPR) is -23.66%.

Wall Street Analysts Forecast Growth

2 Oil Refiners Posting Record Margins: Can the Trend Continue?

PBF has been the subject of a number of research analyst reports. Mizuho upped their target price on PBF Energy from $23.00 to $26.00 and gave the company an "underperform" rating in a research report on Monday, September 15th. Piper Sandler boosted their price objective on PBF Energy from $29.00 to $42.00 and gave the company an "underweight" rating in a research note on Friday, November 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of PBF Energy in a report on Wednesday, November 19th. Wall Street Zen raised shares of PBF Energy from a "sell" rating to a "hold" rating in a report on Saturday, November 1st. Finally, TD Cowen upped their price target on shares of PBF Energy from $22.00 to $25.00 and gave the company a "sell" rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average target price of $28.92.

Get Our Latest Stock Report on PBF

Insider Buying and Selling

In related news, Director Thomas J. Nimbley sold 250,000 shares of the firm's stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total value of $8,627,500.00. Following the completion of the sale, the director owned 790,716 shares in the company, valued at $27,287,609.16. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Steven John Andriola sold 1,048 shares of PBF Energy stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total value of $36,040.72. Following the completion of the sale, the chief accounting officer directly owned 20,974 shares in the company, valued at $721,295.86. This represents a 4.76% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 507,045 shares of company stock worth $18,193,421. 6.70% of the stock is currently owned by insiders.

PBF Energy Profile

(Free Report)

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.

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