Sunbelt Securities Inc. Has $697,000 Stock Position in PBF Energy Inc. (NYSE:PBF)

Sunbelt Securities Inc. increased its position in PBF Energy Inc. (NYSE:PBF) by 205.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,104 shares of the oil and gas company’s stock after buying an additional 8,135 shares during the period. Sunbelt Securities Inc.’s holdings in PBF Energy were worth $697,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the period. Rise Advisors LLC bought a new stake in shares of PBF Energy during the first quarter worth about $27,000. Creekmur Asset Management LLC acquired a new stake in shares of PBF Energy in the 4th quarter worth about $29,000. Fortitude Family Office LLC bought a new position in PBF Energy in the 4th quarter valued at about $44,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in PBF Energy during the 4th quarter valued at about $73,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen lowered their price objective on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Piper Sandler dropped their price objective on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. JPMorgan Chase & Co. upped their target price on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Mizuho dropped their price target on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, Scotiabank upped their price objective on shares of PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $55.82.

Insider Activity

In related news, insider Control Empresarial De Capital bought 200,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the completion of the transaction, the insider now directly owns 14,824,198 shares in the company, valued at approximately $672,573,863.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired a total of 1,951,100 shares of company stock valued at $86,602,417 over the last quarter. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

PBF Energy stock opened at $45.11 on Friday. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $48.84 and its 200 day simple moving average is $49.39. PBF Energy Inc. has a 12 month low of $39.18 and a 12 month high of $62.88. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 3.12 and a beta of 1.63.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The firm had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Sell-side analysts forecast that PBF Energy Inc. will post 5.67 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. PBF Energy’s payout ratio is 6.92%.

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.