Seven Eight Capital LP Has $2.92 Million Stake in PBF Energy Inc. (NYSE:PBF)

Seven Eight Capital LP reduced its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,450 shares of the oil and gas company’s stock after selling 7,381 shares during the period. Seven Eight Capital LP owned 0.05% of PBF Energy worth $2,920,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PBF. Hennessy Advisors Inc. lifted 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 in the last quarter. Van ECK Associates Corp increased its stake in shares of 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 worth $12,008,000 after purchasing an additional 184,426 shares in the last quarter. Norges Bank bought a new stake in shares of PBF Energy in the fourth quarter valued at approximately $54,832,000. Acadian Asset Management LLC lifted its stake in shares of PBF Energy by 4.8% during 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 in the last quarter. Finally, Magnetar Financial LLC purchased a new position in PBF Energy in the 1st quarter valued at approximately $1,394,000. 96.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 670,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average cost of $31.29 per share, for a total transaction of $20,964,300.00. Following the completion of the transaction, the insider now directly owns 22,527,398 shares of the company’s stock, valued at approximately $704,882,283.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 3,049,500 shares of company stock worth $109,399,914 in the last 90 days. Insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PBF. Tudor Pickering raised PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Mizuho decreased their price target on PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday. Wolfe Research started coverage on shares of PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Finally, Wells Fargo & Company lowered their target price on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.91.

PBF Energy Stock Up 1.7 %

Shares of PBF opened at $33.07 on Wednesday. The company has a market cap of $3.92 billion, a PE ratio of 2.29 and a beta of 1.56. PBF Energy Inc. has a 52-week low of $30.61 and a 52-week high of $62.88. The business has a fifty day moving average of $36.14 and a 200 day moving average of $45.87. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $2.29 earnings per share. On average, sell-side analysts expect that PBF Energy Inc. will post 1.25 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

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.