PBF Energy: Investment Firm Reduces Stake in Oil and Gas Company

Van ECK Associates Corp has sold a portion of its stake in PBF Energy Inc., reducing its holdings in the oil and gas company by 15% during the first quarter. The firm now owns 24,818 shares of PBF Energy after selling 4,363 shares. The total value of Van ECK Associates Corp’s holdings in PBF Energy is $1,076,000 as of the most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC purchased a new stake in PBF Energy during the fourth quarter, while Gladius Capital Management LP made a similar purchase during the same period. IFP Advisors Inc and EverSource Wealth Advisors LLC also increased their stakes in PBF Energy.

PBF Energy’s stock opened at $45.24 on Friday and has a 12-month low of $27.00 and a 12-month high of $49.00. The company has a market capitalization of $5.70 billion, a PE ratio of 1.76, and a beta of 1.92. It has a 50-day moving average of $41.43 and a 200-day moving average of $40.70. The company has a current ratio of 1.28, a quick ratio of 0.66, and a debt-to-equity ratio of 0.28.

PBF Energy recently reported its quarterly earnings results, surpassing analysts’ consensus estimates for earnings per share. The company had a return on equity of 69.19% and a net margin of 6.98%. Despite a decrease in revenue compared to the previous year, analysts forecast that PBF Energy will post 8.72 EPS for the current year.

The company has also announced a quarterly dividend, with record holders set to receive $0.20 per share. PBF Energy’s payout ratio is 3.10%.

PBF Energy operates a petroleum refinery, supplying transportation fuels, heating oil, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments.

Analysts have given PBF Energy a “Moderate Buy” rating, with an average target price of $50.00. This information was sourced from MarketBeat.com.