Levin Capital Strategies L.P. Makes New $230,000 Investment in PBF Energy Inc. (NYSE:PBF)

Levin Capital Strategies L.P. acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the oil and gas company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PBF. Private Advisor Group LLC bought a new position in PBF Energy in the fourth quarter worth approximately $283,000. BNP Paribas Financial Markets raised its holdings in PBF Energy by 162.1% during the fourth quarter. BNP Paribas Financial Markets now owns 135,835 shares of the oil and gas company’s stock worth $5,971,000 after buying an additional 84,003 shares during the last quarter. Jump Financial LLC lifted its stake in shares of PBF Energy by 57.0% in the fourth quarter. Jump Financial LLC now owns 25,565 shares of the oil and gas company’s stock valued at $1,124,000 after buying an additional 9,284 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PBF Energy by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock valued at $324,487,000 after buying an additional 120,414 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of PBF Energy by 2.1% during the fourth quarter. Principal Financial Group Inc. now owns 469,134 shares of the oil and gas company’s stock valued at $20,623,000 after buying an additional 9,427 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

NYSE:PBF opened at $31.97 on Tuesday. The stock has a fifty day moving average of $37.58 and a 200 day moving average of $46.51. PBF Energy Inc. has a 52-week low of $31.78 and a 52-week high of $62.88. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 2.21 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42.

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

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders 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 dividend yield of 3.13%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 805,300 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average price of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the purchase, the insider now directly owns 20,634,898 shares of the company’s stock, valued at approximately $673,110,372.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders purchased 3,420,900 shares of company stock worth $134,467,138. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PBF. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday. Wolfe Research started coverage on shares of PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho decreased their price objective on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. UBS Group reduced their price objective on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Piper Sandler decreased their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and an average target price of $52.30.

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.