Simplicity Solutions LLC Raises Position in PBF Energy Inc. (NYSE:PBF)

Simplicity Solutions LLC grew its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,980 shares of the oil and gas company’s stock after purchasing an additional 1,260 shares during the period. Simplicity Solutions LLC’s holdings in PBF Energy were worth $307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in PBF Energy by 12.2% in the 1st quarter. JPMorgan Chase & Co. now owns 396,209 shares of the oil and gas company’s stock worth $9,656,000 after acquiring an additional 43,143 shares during the last quarter. Raymond James & Associates purchased a new position in PBF Energy in the 1st quarter worth $224,000. MetLife Investment Management LLC raised its stake in PBF Energy by 56.1% in the 1st quarter. MetLife Investment Management LLC now owns 51,879 shares of the oil and gas company’s stock worth $1,264,000 after acquiring an additional 18,652 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in PBF Energy during the 1st quarter worth about $578,000. Finally, Rhumbline Advisers grew its position in PBF Energy by 0.3% during the 1st quarter. Rhumbline Advisers now owns 308,096 shares of the oil and gas company’s stock worth $7,508,000 after purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

PBF has been the topic of several analyst reports. Citigroup initiated coverage on PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price target on PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Piper Sandler increased their price target on PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Mizuho downgraded PBF Energy from a “buy” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.55.

PBF Energy Trading Up 0.8 %

PBF stock opened at $55.91 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. PBF Energy Inc. has a 12-month low of $31.25 and a 12-month high of $62.88. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 3.40 and a beta of 1.73. The business’s 50-day moving average is $53.86 and its 200 day moving average is $48.37.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.65 billion. During the same period last year, the business earned $4.41 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts anticipate that PBF Energy Inc. will post 7.21 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s payout ratio is presently 6.08%.

Insider Activity

In other news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Control Empresarial De Capital bought 12,200 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were bought at an average price of $43.86 per share, with a total value of $535,092.00. Following the completion of the transaction, the insider now directly owns 14,345,198 shares in the company, valued at $629,180,384.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,000 shares of company stock valued at $10,074,600. 5.30% of the stock is currently owned by company insiders.

PBF Energy 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.