Fmr LLC Has $32.60 Million Stake in PBF Energy Inc. (NYSE:PBF)

Fmr LLC raised its stake in PBF Energy Inc. (NYSE:PBF) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,053,341 shares of the oil and gas company’s stock after buying an additional 2,316 shares during the period. Fmr LLC owned about 0.91% of PBF Energy worth $32,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in PBF Energy during the 2nd quarter worth about $26,000. CWM LLC grew its stake in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the period. Harbor Capital Advisors Inc. bought a new stake in PBF Energy in the third quarter worth approximately $59,000. Blue Trust Inc. boosted its holdings in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 573 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Down 1.9 %

Shares of PBF Energy stock opened at $30.22 on Monday. The company’s 50 day moving average price is $31.44 and its 200-day moving average price is $36.47. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -11.67 and a beta of 1.57.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the business posted $6.61 EPS. The company’s quarterly revenue was down 21.9% compared to the same quarter last year. Equities research analysts forecast that PBF Energy Inc. will post -2.86 EPS for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.64%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is presently -42.47%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PBF. Mizuho reduced their price objective on PBF Energy from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and cut their target price for the company from $47.00 to $25.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $53.00 to $40.00 in a research report on Wednesday, October 2nd. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Finally, Bank of America initiated coverage on shares of PBF Energy in a research note on Thursday, October 17th. They set an “underperform” rating and a $25.00 price target for the company. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, PBF Energy has an average rating of “Hold” and an average target price of $34.18.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 250,000 shares of PBF Energy stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $31.78 per share, with a total value of $7,945,000.00. Following the completion of the transaction, the insider now directly owns 22,952,398 shares of the company’s stock, valued at approximately $729,427,208.44. The trade was a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 4,238,100 shares of company stock valued at $132,147,631 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

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.