Wedge Capital Management L L P NC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF – Get Rating) in the second quarter, according to its most recent filing with the SEC. The firm purchased 7,467 shares of the oil and gas company’s stock, valued at approximately $217,000.
Several other institutional investors have also recently modified their holdings of PBF. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of PBF Energy during the 1st quarter worth approximately $48,000. Meeder Asset Management Inc. raised its position in shares of PBF Energy by 354.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,792 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,177 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of PBF Energy during the 1st quarter worth approximately $76,000. Signaturefd LLC raised its position in shares of PBF Energy by 6.9% during the 1st quarter. Signaturefd LLC now owns 6,287 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 407 shares during the last quarter. Finally, Regatta Capital Group LLC acquired a new position in shares of PBF Energy during the 4th quarter worth approximately $199,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.
PBF Energy Stock Down 0.3 %
Shares of NYSE PBF opened at $29.60 on Thursday. PBF Energy Inc. has a 52-week low of $10.44 and a 52-week high of $44.12. The firm has a fifty day moving average of $32.05 and a 200-day moving average of $30.17. The stock has a market capitalization of $3.61 billion, a PE ratio of 2.60 and a beta of 2.15. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 0.55.
Insider Buying and Selling
In related news, SVP Connor Thomas L. O sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $37.54, for a total transaction of $3,754,000.00. Following the completion of the sale, the senior vice president now directly owns 80,000 shares of the company’s stock, valued at approximately $3,003,200. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
PBF has been the subject of several research reports. JPMorgan Chase & Co. upgraded PBF Energy from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Wednesday. Cowen lifted their target price on shares of PBF Energy to $32.00 in a research note on Tuesday, August 9th. Barclays lifted their target price on shares of PBF Energy from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 5th. StockNews.com raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Wells Fargo & Company lifted their target price on shares of PBF Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $34.15.
About PBF Energy
PBF Energy Inc, together with 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.
- Get a free copy of the StockNews.com research report on PBF Energy (PBF)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- 3 Defensive Stocks With 60-Year Dividend Hike Streaks
Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.