Heartland Advisors Inc. Makes New $1.42 Million Investment in PBF Energy Inc. (NYSE:PBF)

Heartland Advisors Inc. acquired a new stake in PBF Energy Inc. (NYSE:PBF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 53,482 shares of the oil and gas company’s stock, valued at approximately $1,420,000.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC lifted its position in PBF Energy by 968.8% during the fourth 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 in the last quarter. Quarry LP acquired a new position in shares of PBF Energy during the 3rd quarter valued at $48,000. Golden State Wealth Management LLC purchased a new stake in PBF Energy during the 4th quarter worth $61,000. EverSource Wealth Advisors LLC increased its holdings in PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in PBF Energy in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Activity

In other news, insider Control Empresarial De Capital purchased 100,000 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were bought at an average price of $28.62 per share, for a total transaction of $2,862,000.00. Following the completion of the purchase, the insider now owns 28,984,998 shares of the company’s stock, valued at $829,550,642.76. This trade represents a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders bought 651,000 shares of company stock valued at $17,480,400. 5.30% of the stock is currently owned by company insiders.

PBF Energy Stock Performance

PBF stock opened at $18.98 on Friday. The firm has a market cap of $2.19 billion, a P/E ratio of -4.03 and a beta of 1.62. The stock’s 50 day simple moving average is $24.28 and its 200 day simple moving average is $28.24. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 12-month low of $18.82 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, equities research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Wall Street Analyst Weigh In

PBF has been the subject of a number of recent research reports. UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler decreased their target price on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group lowered their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $26.36.

PBF Energy 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.