Waddell & Reed Financial Inc. increased its holdings in shares of PBF Energy Inc (NYSE:PBF) by 1,681.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 245,150 shares of the oil and gas company’s stock after acquiring an additional 231,385 shares during the quarter. Waddell & Reed Financial Inc. owned about 0.22% of PBF Energy worth $10,279,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Smithfield Trust Co. acquired a new position in shares of PBF Energy in the 2nd quarter worth approximately $121,000. Itau Unibanco Holding S.A. purchased a new stake in PBF Energy during the 2nd quarter worth approximately $132,000. Point72 Hong Kong Ltd purchased a new stake in PBF Energy during the 2nd quarter worth approximately $145,000. Cerebellum GP LLC purchased a new stake in PBF Energy during the 2nd quarter worth approximately $175,000. Finally, Sun Life Financial INC purchased a new stake in PBF Energy during the 2nd quarter worth approximately $200,000. Institutional investors own 93.38% of the company’s stock.
NYSE:PBF traded up $0.80 during trading hours on Friday, reaching $50.73. 1,191,234 shares of the company’s stock were exchanged, compared to its average volume of 2,058,418. PBF Energy Inc has a 1-year low of $26.88 and a 1-year high of $53.91. The stock has a market cap of $5.68 billion, a P/E ratio of 44.50, a P/E/G ratio of 1.17 and a beta of 1.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 0.63.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 2nd. The oil and gas company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $6.15 billion. PBF Energy had a net margin of 3.40% and a return on equity of 9.82%. The business’s revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) EPS. Sell-side analysts expect that PBF Energy Inc will post 2.73 EPS for the current fiscal year.
A number of equities research analysts have commented on the stock. ValuEngine downgraded shares of PBF Energy from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 2nd. Macquarie raised shares of PBF Energy from a “neutral” rating to an “outperform” rating in a research report on Monday, July 9th. Mizuho initiated coverage on shares of PBF Energy in a research report on Wednesday, August 1st. They issued a “buy” rating and a $55.00 target price on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of PBF Energy in a research report on Friday, August 3rd. Finally, Wells Fargo & Co dropped their target price on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $45.58.
PBF Energy Profile
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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