Home Hedge Funds PBF Energy Reports Impressive Q1 Earnings and Attracts Hedge Fund Investments

PBF Energy Reports Impressive Q1 Earnings and Attracts Hedge Fund Investments

PBF stock news

PBF Energy (NYSE:PBF) has generated impressive results in its latest earnings report filing. The oil and gas company has affirmed that it earned $2.76 EPS for the last quarter, which exceeds the consensus estimate of $2.65 by $0.11. Moreover, PBF Energy showcased a net margin of 6.98% and return on equity totaled 69.19%. The firm garnered a revenue of $9.30 billion in Q1 2021 compared to analyst expectations of $8.39 billion, which was also up by 1.7% from the previous year’s corresponding quarter.

Many hedge funds have also taken notice of PBF Energy’s increasing stock value and opted to either add or reduce their investment stakes recently. For example, Moneta Group Investment Advisors LLC acquired a new position in the shares of PBF Energy worth roughly $412,454,000 towards the end of last year’s fourth quarter.

Deutsche Bank AG grew its holding by approximately 112.7%, owning as much as 4,565,960 shares at present worth an estimated value of around $186,200,000 after acquiring an extra 2,418,902 shares in Q4 2020 alone.

Meanwhile, BlackRock Inc., UBS Asset Management Americas Inc., and UBS Group AG all made forays into stake building during their corresponding periods too.

PBF Energy has shown that its movement can be both lastingly volatile and highly attractive because the corporation rapidly rose between one year low values ($24.63) versus one year high values ($49). Therefore this stock exhibits a debt-to-equity ratio of 0.28 together with quick ratio registering at .66 & gross margin calculated at N/A respectively.

The latest data trends indicate that institutional investors own approximately 90.69% per cent of PBF Energy’s current outstanding shares on NYSE; thus making it a favorable stock option for interested investors.

In conclusion, PBF Energy has undoubtedly managed to maintain its presence as one of the leaders in the gas and oil industry. By focusing on consolidating various strategies, it has attracted hedge funds and numerous large-scale institutional investors’ attention. Thus considering the ever-rising share values alongside these stakeholders’ confidence-expressed positivity, future Outlooks appear promising for this organization indeed!

PBF Energy Inc. sees change in analysts’ Q3 2023 EPS projections

PBF Energy Inc. (NYSE:PBF), an oil and gas company, has experienced a change in analysts’ perceptions of its Q3 2023 earnings per share. Reports from Zacks Research on May 24th estimated that PBF Energy would post earnings per share of $2.43 for the quarter, which is down from their previous estimate of $2.54. The consensus estimate for PBF Energy’s current full-year earnings is $8.85 per share, with Zacks Research issuing additional estimates for Q3 2024 earnings at $1.44 EPS, Q4 2024 earnings at $1.21 EPS, FY2024 earnings at $5.30 EPS and FY2025 earnings at $4.19 EPS.

Other analysts have also released reports about the stock, including Piper Sandler reducing their price target from $74 to $61 in a research report on May 18th; Mizuho cutting PBF Energy from a “buy” rating to a “neutral” rating and reducing their price target for the company from $56 to $41 in a research report dated May 19th; Wells Fargo & Company reducing their price target on PBF Energy from $58 to $51 back on April 18th; while UBS Group began coverage on shares of PBF Energy in a research report on March 8th with a “neutral” rating and a $53 price objective for the company. TheStreet upgraded shares of PBF Energy from a “c” rating to a “b-” rating in another research report issued last May.

Despite these changes in analyst perceptions towards PBF Energy’s stock performance over time, the company announced that it would still pay out its quarterly dividend which was scheduled to be paid out on Wednesday, May 31st after investors owning shares as of Wednesday, May 17th were given a dividend of $0.20 per share. The ex-dividend date for this dividend was May 16th. Currently, Bloomberg.com reports that PBF Energy holds a consensus rating of “Hold,” with an average target price of $45.08. As always, the performance of any investment depends on several factors and market dynamics as well as economic trends which can have a profound impact and should be taken into account when making investment decisions.

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