Charles Schwab Investment Management Inc. Has $39.63 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

Charles Schwab Investment Management Inc. increased its holdings in PBF Energy Inc. (NYSE:PBF) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,492,817 shares of the oil and gas company’s stock after purchasing an additional 78,045 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.30% of PBF Energy worth $39,634,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PBF. Fortitude Family Office LLC raised its position in 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 purchasing an additional 1,056 shares during the last quarter. Quarry LP bought a new stake in PBF Energy in the third quarter valued at about $48,000. Golden State Wealth Management LLC bought a new position in PBF Energy during the 4th quarter worth approximately $61,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PBF Energy in the 4th quarter valued at $68,000. Finally, Spire Wealth Management raised its position in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 585 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

PBF has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday. Piper Sandler decreased their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. UBS Group dropped their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Finally, Morgan Stanley dropped their price objective on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.36.

PBF Energy Trading Up 5.2 %

NYSE PBF opened at $20.70 on Friday. The business’s 50-day moving average price is $25.93 and its two-hundred day moving average price is $29.08. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.39 billion, a PE ratio of -4.39 and a beta of 1.62. PBF Energy Inc. has a 12 month low of $18.97 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate 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%. On average, analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 155,000 shares of PBF Energy stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $20.20 per share, with a total value of $3,131,000.00. Following the transaction, the insider now owns 30,249,998 shares of the company’s stock, valued at approximately $611,049,959.60. This trade represents a 0.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 1,062,500 shares of company stock worth $28,442,290 in the last ninety days. Corporate 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.