Wedge Capital Management L L P NC Reduces Stake in PBF Energy by 22.2%
June 28, 2023
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PBF ($NYSE:PBF) Energy Inc. is a publicly traded energy company that specializes in the refining and marketing of petroleum products. 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. Recently, Wedge Capital Management L L P NC reduced its stake in PBF Energy Inc. by 22.2% during the first quarter.
This reduction in stake was part of the company’s quarterly filing with the SEC. It is unclear why Wedge Capital Management L L P NC decided to reduce its stake in PBF Energy Inc., but it is likely related to the current state of the oil market as prices remain low.
Analysis
GoodWhale has conducted an analysis of PBF ENERGY‘s fundamentals, and based on our Star Chart, PBF ENERGY has a high health score of 8/10 with regard to its cashflows and debt. This means that the company is capable of paying off its debt and financing future operations. We have classified PBF ENERGY as a ‘cheetah’ type of company – one that achieved high revenue or earnings growth but is considered less stable due to lower profitability. This makes PBF ENERGY an attractive option for those investors looking for high-growth companies with potential for substantial profits. With strong growth, medium asset, profitability and weak dividend metrics, PBF ENERGY may be an interesting opportunity for those investors seeking to take advantage of the higher-risk, higher-reward nature of investing in such stocks. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pbf Energy. More…
| Total Revenues | Net Income | Net Margin |
| 46.98k | 3.28k | 7.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pbf Energy. More…
| Operations | Investing | Financing |
| 4.9k | -1.16k | -3.55k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pbf Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.14k | 7.87k | 40.6 |
Key Ratios Snapshot
Some of the financial key ratios for Pbf Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.1% | 89.4% | 9.1% |
| FCF Margin | ROE | ROA |
| 8.8% | 53.0% | 20.3% |
Peers
PBF Energy Inc is an American holding company that owns and operates oil refineries and is headquartered in Parsippany-Troy Hills, New Jersey. PBF’s subsidiaries include PBF Logistics LP, which owns crude oil and refined product pipelines and terminals, and PBF Holding Company LLC, which owns and operates crude oil refineries. As of December 31, 2019, PBF Energy Inc. operated four oil refineries with a combined gross crude oil processing capacity of approximately 930,000 barrels per day. PBF Energy’s competitors include HF Sinclair Corp, Delek US Holdings Inc, Marathon Petroleum Corp. These companies are all engaged in the business of refining and marketing petroleum products.
– HF Sinclair Corp ($NYSE:DINO)
Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the United States. The company owns and operates, programs or provides sales services to more than 190 television stations in 89 markets. Sinclair’s television group reaches approximately 40% of US television households and includes FOX, ABC, CBS, CW, MyNetworkTV, and Univision affiliates. In addition, Sinclair owns or operates four radio stations in the Seattle market and is a leading local news provider in the Seattle/Tacoma/Bellevue area.
– Delek US Holdings Inc ($NYSE:DK)
Delek US Holdings Inc. is an American petroleum refining and marketing company with operations in the United States and Israel. It has a market cap of 2.07B as of 2022 and a Return on Equity of 34.19%. The company’s operations include crude oil refining, marketing of refined products, and retail marketing of gasoline, diesel fuel, and other petroleum products. Delek US Holdings Inc. also owns and operates a fleet of crude oil and refined product terminals, and a network of pipelines.
– Marathon Petroleum Corp ($NYSE:MPC)
Marathon Petroleum Corp is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. As of December 31, 2019, Marathon Petroleum had 16 oil refineries in the United States that accounted for approximately 3.1 million barrels per day of crude oil processing capacity. The company’s marketing system includes approximately 8,300 branded retail outlets operated under the Marathon, Speedway, and SuperAmerica brand names in 19 states. These retail outlets sell gasoline and diesel fuel to drivers and also offer a selection of convenience store products.
Summary
This is a significant drop that investors should consider when researching the company and its future performance. Fundamental analysis should include an assessment of the company’s financials, competitive landscape, and management team. Additionally, investors should use technical analysis to help assess the current market conditions and identify any possible trading opportunities. As with any investment, it is important to conduct thorough research before making a decision.
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