Janney Montgomery Scott LLC Has $496,000 Position in PBF Energy Inc. (NYSE:PBF)

Janney Montgomery Scott LLC lowered its position in PBF Energy Inc. (NYSE:PBFGet Rating) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,108 shares of the oil and gas company’s stock after selling 1,574 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PBF Energy were worth $496,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of PBF Energy in the first quarter valued at about $48,000. Quadrant Capital Group LLC raised its position in shares of PBF Energy by 17.6% in the second quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 433 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of PBF Energy in the first quarter valued at about $76,000. Ellevest Inc. raised its position in shares of PBF Energy by 724.0% in the second quarter. Ellevest Inc. now owns 3,436 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 3,019 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of PBF Energy in the second quarter valued at about $102,000. Institutional investors and hedge funds own 90.69% of the company’s stock.

PBF Energy Price Performance

PBF stock opened at $42.37 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.21 and a debt-to-equity ratio of 0.31. PBF Energy Inc. has a 12 month low of $14.75 and a 12 month high of $49.00. The firm has a market cap of $5.19 billion, a P/E ratio of 2.20 and a beta of 1.92. The company’s 50-day moving average price is $40.11 and its two-hundred day moving average price is $37.13.

PBF Energy (NYSE:PBFGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $1.93. PBF Energy had a net margin of 5.44% and a return on equity of 73.75%. The company had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $10.12 billion. On average, analysts anticipate that PBF Energy Inc. will post 23.56 earnings per share for the current fiscal year.

PBF Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.89%. PBF Energy’s payout ratio is currently 4.16%.

Insider Activity

In other news, SVP Paul T. Davis sold 117,500 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $47.28, for a total value of $5,555,400.00. Following the sale, the senior vice president now directly owns 44,126 shares in the company, valued at approximately $2,086,277.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider John C. Barone sold 32,500 shares of PBF Energy stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $45.97, for a total transaction of $1,494,025.00. Following the sale, the insider now directly owns 14,662 shares in the company, valued at approximately $674,012.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul T. Davis sold 117,500 shares of PBF Energy stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the sale, the senior vice president now owns 44,126 shares in the company, valued at $2,086,277.28. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PBF. The Goldman Sachs Group increased their price objective on shares of PBF Energy from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, October 28th. Cowen raised their price target on shares of PBF Energy to $35.00 in a research report on Tuesday, November 1st. StockNews.com lowered shares of PBF Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 15th. Morgan Stanley raised their price target on shares of PBF Energy from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Mizuho reaffirmed a “buy” rating and set a $50.00 price target (up from $43.00) on shares of PBF Energy in a research report on Tuesday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and an average target price of $41.69.

About PBF Energy

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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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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