Bridgewater Associates LP Purchases 26,952 Shares of PBF Energy Inc. (NYSE:PBF)

Bridgewater Associates LP grew its holdings in PBF Energy Inc. (NYSE:PBF) by 40.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,566 shares of the oil and gas company’s stock after purchasing an additional 26,952 shares during the quarter. Bridgewater Associates LP owned approximately 0.08% of PBF Energy worth $2,896,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in PBF Energy by 720.8% in the first quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock valued at $2,480,000 after acquiring an additional 37,826 shares during the last quarter. Dakota Wealth Management acquired a new position in shares of PBF Energy in the 3rd quarter valued at $694,000. Symmetry Investments LP bought a new position in shares of PBF Energy in the 2nd quarter worth $2,464,000. State of New Jersey Common Pension Fund D grew its stake in shares of PBF Energy by 44.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after purchasing an additional 18,173 shares during the period. Finally, Stratos Wealth Advisors LLC increased its holdings in PBF Energy by 105.8% in the third quarter. Stratos Wealth Advisors LLC now owns 43,709 shares of the oil and gas company’s stock valued at $1,353,000 after purchasing an additional 22,470 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PBF. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. cut shares of PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Bank of America assumed coverage on shares of PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price for the company. Wells Fargo & Company reduced their price target on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PBF Energy currently has an average rating of “Hold” and an average price target of $34.18.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital acquired 805,300 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of $32.62 per share, for a total transaction of $26,268,886.00. Following the purchase, the insider now directly owns 20,634,898 shares in the company, valued at approximately $673,110,372.76. This trade represents a 4.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 4,649,400 shares of company stock worth $147,107,697 in the last three months. Insiders own 5.30% of the company’s stock.

PBF Energy Stock Up 0.3 %

PBF stock opened at $31.49 on Friday. The business has a 50-day moving average of $31.43 and a 200-day moving average of $37.20. PBF Energy Inc. has a fifty-two week low of $27.94 and a fifty-two week high of $62.88. The stock has a market capitalization of $3.63 billion, a P/E ratio of -12.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s revenue was down 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.61 earnings per share. On average, sell-side analysts anticipate that PBF Energy Inc. will post -2.86 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.49%. PBF Energy’s payout ratio is -42.47%.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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 from crude oil.