Raymond James Financial Inc. Makes New Investment in PBF Energy Inc. (NYSE:PBF)

Raymond James Financial Inc. acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,303 shares of the oil and gas company’s stock, valued at approximately $1,654,000. Raymond James Financial Inc. owned 0.05% of PBF Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after buying an additional 392,776 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of PBF Energy in the third quarter valued at about $2,404,000. Y Intercept Hong Kong Ltd raised its stake in shares of PBF Energy by 108.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company’s stock valued at $1,359,000 after acquiring an additional 22,852 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PBF Energy by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company’s stock worth $39,634,000 after purchasing an additional 78,045 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in PBF Energy during the 3rd quarter valued at about $1,642,000. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

PBF has been the subject of several research analyst reports. Mizuho dropped their price objective on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday. TD Cowen dropped their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, March 11th. Morgan Stanley reduced their price objective on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group reduced their price target on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and an average target price of $25.55.

PBF Energy Stock Up 0.6 %

Shares of PBF Energy stock opened at $19.21 on Wednesday. PBF Energy Inc. has a 1 year low of $18.20 and a 1 year high of $62.88. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -4.08 and a beta of 1.62. The company has a 50-day moving average of $23.81 and a 200 day moving average of $28.01. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

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

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 20,000 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was acquired at an average cost of $19.09 per share, with a total value of $381,800.00. Following the completion of the acquisition, the insider now owns 30,534,998 shares of the company’s stock, valued at approximately $582,913,111.82. This represents a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 671,000 shares of company stock valued at $17,862,200. 5.30% of the stock is currently owned by corporate insiders.

About PBF Energy

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.