SSgA Funds Management, Inc. recently announced the acquisition of new stake in PBF Energy Inc. (NYSE:PBF). The institutional investor has increased its shareholding in the Energy company by 0.75% to 6.64 million shares with purchase of 49190.0 shares. This fresh investment now brings its stake to 5.15% valued currently at $290.08 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.12 million to 6.44 million shares. And DWS Investments has lifted its position by 107.66% or 2.28 million shares – to 4.4 million shares.
With over 3.25 million PBF Energy Inc. (PBF) shares trading Tuesday and a closing price of $41.47 on the day, the dollar volume was approximately $134.75 million. The shares have shown a positive half year performance of 26.09% and its price on 03/14/23 gained nearly 0.44%. Currently, there are 126.49M common shares owned by the public and among those 109.59M shares have been available to trade.
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Insiders at the company have transacted a total of 108 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 56 of these insider trades were purchases, accounting for 1,070,084 shares. Insider sales of the common stock occurred on 52 occasions, with total insider shares sold totaling 12,466,842 shares.
The top 3 mutual fund holders in PBF Energy Inc. are Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 3.63 million shares of the company’s stock, all valued at over $158.46 million. The company bought an additional 22636.0 shares recently to bring their total holdings to about 2.81% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 8088.0 shares to see its total holdings expand to 3.57 million shares valued at over $155.93 million and representing 2.77% of the shares outstanding. Vanguard Small Cap Index Fund bought 16750.0 shares to bring its total holdings to over 3.07 million shares at a value of $134.24 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.38% of the shares outstanding.
Shares of PBF Energy Inc. (NYSE: PBF) opened at $41.61, up $0.32 from a prior closing price of $41.29. However, the script later moved the day high at 43.26, up 0.44%. The company’s stock has a 5-day price change of -11.18% and 27.40% over the past three months. PBF shares are trading 1.69% year to date (YTD), with the 12-month market performance up to 64.04% higher. It has a 12-month low price of $19.23 and touched a high of $49.00 over the same period. PBF has an average intraday trading volume of 2.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.53%, -1.47%, and 9.77% respectively.
Institutional ownership of PBF Energy Inc. (NYSE: PBF) shares accounts for 81.60% of the company’s 126.49M shares outstanding. Mutual fund holders own 42.89%, while other institutional holders and individual stakeholders account for 44.42% and 13.70% respectively.
It has a market capitalization of $5.37B and a beta (3y monthly) value of 1.97. The stock’s trailing 12-month PE ratio is 1.84, while the earnings-per-share (ttm) stands at $22.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.46% over the week and 5.43% over the month.
Analysts forecast that PBF Energy Inc. (PBF) will achieve an EPS of $4.93 for the current quarter, $2.67 for the next quarter and $10.55 for 2023. The lowest estimate earnings-per-share for the quarter is $4.16 while analysts give the company a high EPS estimate of $5.49. Comparatively, EPS for the current quarter was $1.28 a year ago. Earnings per share for the fiscal year are expected to decrease by -53.10%, and -33.15% over the next financial year. EPS should shrink at an annualized rate of 0.00% over the next five years, compared to 42.80% over the past 5-year period.
Looking at the support for the PBF, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on March 09, 2023, with the firm’s price target at $53. Mizuho coverage for the PBF Energy Inc. (PBF) stock in a research note released on January 10, 2023 offered a Buy rating with a price target of $50. JP Morgan was of a view on September 21, 2022 that the stock is Overweight, while Wolfe Research gave the stock Outperform rating on September 15, 2022, issuing a price target of $36- $49. Wells Fargo on their part issued Overweight rating on June 14, 2022.
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