Dakota Wealth Management Boosts Position in PBF Energy Inc. (NYSE:PBF)

Dakota Wealth Management lifted its position in PBF Energy Inc. (NYSE:PBF) by 54.5% in the fourth quarter, HoldingsChannel reports. The firm owned 34,642 shares of the oil and gas company’s stock after buying an additional 12,221 shares during the period. Dakota Wealth Management’s holdings in PBF Energy were worth $920,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PBF. Fortitude Family Office LLC grew its stake in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares during the period. Quarry LP acquired a new position in PBF Energy in the third quarter valued at approximately $48,000. Harbor Capital Advisors Inc. purchased a new position in PBF Energy in the third quarter worth approximately $59,000. Blue Trust Inc. increased its stake in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in PBF Energy in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PBF. BMO Capital Markets downgraded PBF Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and cut their target price for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Finally, Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $39.00 to $34.00 in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $32.00.

PBF Energy Trading Down 1.8 %

NYSE PBF opened at $29.90 on Friday. PBF Energy Inc. has a 52 week low of $24.21 and a 52 week high of $62.88. The firm has a 50 day moving average of $29.15 and a two-hundred day moving average of $32.44. The stock has a market capitalization of $3.44 billion, a PE ratio of -11.55 and a beta of 1.61. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period last year, the company earned $6.61 EPS. As a group, research analysts expect that PBF Energy Inc. will post -3.5 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.68%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is -42.47%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital acquired 75,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was bought at an average price of $31.58 per share, for a total transaction of $2,368,500.00. Following the completion of the purchase, the insider now directly owns 25,026,498 shares of the company’s stock, valued at approximately $790,336,806.84. The trade was a 0.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased 2,282,500 shares of company stock worth $67,731,360 over the last three months. Insiders own 5.30% of the company’s stock.

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.