Highland Peak Capital LLC Purchases Shares of 50,545 PBF Energy Inc. (NYSE:PBF)

Highland Peak Capital LLC acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 50,545 shares of the oil and gas company’s stock, valued at approximately $2,326,000. PBF Energy accounts for approximately 0.8% of Highland Peak Capital LLC’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. GAMMA Investing LLC increased its position in shares of PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the last quarter. National Bank of Canada FI purchased a new position in PBF Energy in the second quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in PBF Energy in the first quarter valued at $27,000. Creekmur Asset Management LLC acquired a new position in PBF Energy during the fourth quarter worth approximately $29,000. Finally, CWM LLC raised its stake in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

PBF has been the subject of several analyst reports. Wells Fargo & Company cut their price target on PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. UBS Group lowered their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Piper Sandler dropped their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Wolfe Research initiated coverage on PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.91.

PBF Energy Trading Down 0.3 %

PBF stock opened at $32.52 on Tuesday. PBF Energy Inc. has a 52 week low of $30.61 and a 52 week high of $62.88. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 2.25 and a beta of 1.56. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $36.31 and a 200-day simple moving average of $45.98.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results 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 firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. On average, equities research analysts expect that PBF Energy Inc. will post 1.25 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.08%. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 805,300 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of $32.62 per share, with a total value of $26,268,886.00. Following the purchase, the insider now owns 20,634,898 shares in the company, valued at approximately $673,110,372.76. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 3,049,500 shares of company stock worth $109,399,914 over the last ninety days. 5.30% of the stock is owned by company insiders.

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.