PBF Energy Inc. $PBF Shares Purchased by Private Management Group Inc.

Private Management Group Inc. boosted its holdings in PBF Energy Inc. (NYSE:PBF) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,174,201 shares of the oil and gas company’s stock after purchasing an additional 75,546 shares during the quarter. Private Management Group Inc.’s holdings in PBF Energy were worth $25,445,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. CWM LLC raised its holdings in PBF Energy by 290.9% during the first quarter. CWM LLC now owns 5,414 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 4,029 shares in the last quarter. Victory Capital Management Inc. grew its stake in PBF Energy by 163.6% during the 1st quarter. Victory Capital Management Inc. now owns 125,435 shares of the oil and gas company’s stock worth $2,395,000 after buying an additional 77,858 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in PBF Energy during the first quarter worth approximately $364,000. Cetera Investment Advisers lifted its stake in PBF Energy by 22.5% in the first quarter. Cetera Investment Advisers now owns 45,659 shares of the oil and gas company’s stock valued at $872,000 after buying an additional 8,378 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in PBF Energy in the first quarter valued at approximately $37,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Stock Up 0.4%

Shares of PBF Energy stock opened at $34.89 on Friday. PBF Energy Inc. has a one year low of $13.61 and a one year high of $41.47. The company has a market cap of $4.04 billion, a P/E ratio of -7.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. The firm has a fifty day moving average of $32.75 and a two-hundred day moving average of $26.55.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.17. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.50) earnings per share. On average, analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be paid a $0.275 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.2%. PBF Energy’s payout ratio is -23.66%.

Insider Transactions at PBF Energy

In related news, SVP Paul T. Davis sold 50,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the senior vice president owned 192,391 shares of the company’s stock, valued at $7,310,858. This represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Steven John Andriola sold 1,048 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total value of $36,040.72. Following the completion of the sale, the chief accounting officer directly owned 20,974 shares of the company’s stock, valued at approximately $721,295.86. This trade represents a 4.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 507,045 shares of company stock valued at $18,193,421. 5.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PBF shares. Bank of America raised their target price on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 3rd. Piper Sandler raised their price objective on shares of PBF Energy from $29.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, November 14th. UBS Group lifted their price objective on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a report on Wednesday. Finally, Mizuho raised their price target on PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $28.92.

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.