Mackenzie Financial Corp Has $21.51 Million Position in PBF Energy Inc. (NYSE:PBF)

Mackenzie Financial Corp increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 26.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,344 shares of the oil and gas company’s stock after purchasing an additional 103,310 shares during the quarter. Mackenzie Financial Corp’s holdings in PBF Energy were worth $21,512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PBF. Moneta Group Investment Advisors LLC acquired a new position in shares of PBF Energy during the fourth quarter worth $412,454,000. Norges Bank bought a new position in PBF Energy in the fourth quarter valued at about $43,996,000. Vanguard Group Inc. grew its holdings in shares of PBF Energy by 9.6% during the first quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company’s stock worth $298,916,000 after purchasing an additional 1,077,287 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of PBF Energy by 1,112.3% in the third quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock valued at $51,718,000 after buying an additional 886,617 shares during the period. Finally, AQR Capital Management LLC raised its holdings in PBF Energy by 253.1% in the 1st quarter. AQR Capital Management LLC now owns 1,156,262 shares of the oil and gas company’s stock valued at $49,569,000 after buying an additional 828,787 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 12,200 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was acquired at an average price of $43.86 per share, for a total transaction of $535,092.00. Following the purchase, the insider now owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the transaction, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Control Empresarial De Capital acquired 12,200 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were bought at an average cost of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now directly owns 14,345,198 shares in the company, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 180,000 shares of company stock valued at $10,074,600. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of research reports. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Piper Sandler raised their target price on PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Citigroup initiated coverage on PBF Energy in a research report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Mizuho downgraded PBF Energy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Finally, Wells Fargo & Company upped their target price on PBF Energy from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.55.

PBF Energy Stock Performance

NYSE:PBF opened at $55.49 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. PBF Energy Inc. has a twelve month low of $31.25 and a twelve month high of $62.88. The company has a fifty day moving average of $53.81 and a 200-day moving average of $48.34. The firm has a market capitalization of $6.63 billion, a P/E ratio of 3.37 and a beta of 1.73.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the firm posted $4.41 earnings per share. As a group, sell-side analysts anticipate that PBF Energy Inc. will post 5.88 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 annualized dividend and a yield of 1.80%. PBF Energy’s payout ratio is currently 6.08%.

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.