Dorsey Wright & Associates Purchases New Holdings in PBF Energy Inc (PBF)
Dorsey Wright & Associates purchased a new position in PBF Energy Inc (NYSE:PBF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 14,649 shares of the oil and gas company’s stock, valued at approximately $614,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of PBF Energy by 3.1% in the 1st quarter. BlackRock Inc. now owns 9,583,646 shares of the oil and gas company’s stock worth $324,886,000 after purchasing an additional 289,653 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PBF Energy by 9.6% in the 1st quarter. JPMorgan Chase & Co. now owns 8,515,620 shares of the oil and gas company’s stock worth $288,681,000 after purchasing an additional 745,284 shares during the last quarter. LSV Asset Management lifted its holdings in shares of PBF Energy by 32.4% in the 1st quarter. LSV Asset Management now owns 4,077,399 shares of the oil and gas company’s stock worth $138,223,000 after purchasing an additional 997,388 shares during the last quarter. Millennium Management LLC bought a new stake in shares of PBF Energy in the 4th quarter worth approximately $55,967,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of PBF Energy by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,176,329 shares of the oil and gas company’s stock worth $41,701,000 after purchasing an additional 10,698 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. Credit Suisse Group assumed coverage on PBF Energy in a report on Monday, April 9th. They issued a “neutral” rating and a $37.00 price target on the stock. Scotia Howard Weill restated a “sector perform” rating on shares of PBF Energy in a research report on Wednesday, April 11th. ValuEngine cut PBF Energy from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 2nd. JPMorgan Chase & Co. raised their target price on PBF Energy from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, April 9th. Finally, Morgan Stanley raised their target price on PBF Energy from $37.00 to $38.00 and gave the company a “sell” rating in a research report on Monday, April 16th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.00.
PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 3rd. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.10). PBF Energy had a net margin of 2.09% and a return on equity of 4.39%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. research analysts expect that PBF Energy Inc will post 3.6 earnings per share for the current year.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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