Swift Run Capital Management LLC decreased its position in shares of PBF Energy Inc. (NYSE:PBF) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 190,288 shares of the company’s stock after selling 2,247 shares during the period. PBF Energy comprises approximately 2.9% of Swift Run Capital Management LLC’s portfolio, making the stock its 15th largest position. Swift Run Capital Management LLC’s holdings in PBF Energy were worth $4,525,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of PBF. Huntington National Bank purchased a new position in shares of PBF Energy during the second quarter worth approximately $109,000. Acrospire Investment Management LLC bought a new stake in PBF Energy during the first quarter worth about $130,000. M&T Bank Corp bought a new stake in PBF Energy during the first quarter worth about $201,000. Advisory Services Network LLC raised its stake in PBF Energy by 13.9% in the second quarter. Advisory Services Network LLC now owns 9,403 shares of the company’s stock worth $224,000 after buying an additional 1,150 shares during the last quarter. Finally, IBM Retirement Fund raised its stake in PBF Energy by 1.8% in the second quarter. IBM Retirement Fund now owns 9,875 shares of the company’s stock worth $235,000 after buying an additional 178 shares during the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PBF Energy Inc. (NYSE:PBF) traded down 1.83% during trading on Friday, hitting $19.82. The stock had a trading volume of 3,283,656 shares. PBF Energy Inc. has a 12 month low of $19.47 and a 12 month high of $41.75. The stock has a 50 day moving average of $22.11 and a 200 day moving average of $25.56. The company’s market cap is $1.94 billion.
PBF Energy (NYSE:PBF) last released its earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.73. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.06 billion. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. PBF Energy’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Equities analysts forecast that PBF Energy Inc. will post ($0.29) EPS for the current fiscal year.
PBF has been the topic of a number of analyst reports. Credit Suisse Group AG reiterated a “buy” rating and set a $32.00 price objective on shares of PBF Energy in a research note on Thursday, June 16th. Barclays PLC reiterated an “equal weight” rating and set a $26.00 price objective on shares of PBF Energy in a research note on Monday, August 1st. Deutsche Bank AG decreased their price objective on PBF Energy from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, September 15th. Tudor Pickering lowered PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Wolfe Research lowered PBF Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, June 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. PBF Energy has an average rating of “Hold” and an average price target of $29.33.
In related news, CEO Thomas J. Nimbley bought 50,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average cost of $21.84 per share, for a total transaction of $1,092,000.00. Following the completion of the transaction, the chief executive officer now owns 160,000 shares of the company’s stock, valued at $3,494,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Connor Thomas L. O bought 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average price of $21.73 per share, for a total transaction of $217,300.00. Following the completion of the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $1,086,500. The disclosure for this purchase can be found here. Corporate insiders own 5.70% of the company’s stock.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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