HighTower Advisors LLC Raises Stock Holdings in PBF Energy Inc. (NYSE:PBF)

HighTower Advisors LLC grew its stake in shares of PBF Energy Inc. (NYSE:PBF) by 54.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,267 shares of the oil and gas company’s stock after buying an additional 7,825 shares during the period. HighTower Advisors LLC’s holdings in PBF Energy were worth $591,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP bought a new position in PBF Energy in the 3rd quarter worth $48,000. Golden State Wealth Management LLC bought a new stake in PBF Energy during the fourth quarter valued at about $61,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in PBF Energy during the 4th quarter valued at approximately $68,000. Finally, Spire Wealth Management lifted its holdings in PBF Energy by 28.2% in the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 585 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Down 1.9 %

Shares of PBF opened at $18.98 on Friday. PBF Energy Inc. has a twelve month low of $18.82 and a twelve month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $24.28 and its 200-day simple moving average is $28.21. The company has a market cap of $2.19 billion, a P/E ratio of -4.03 and a beta of 1.62.

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

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is currently -23.35%.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of research analyst reports. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $33.00 to $31.00 in a report on Monday, December 16th. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Morgan Stanley dropped their price objective on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Wells Fargo & Company reduced their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. cut their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus price target of $26.36.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 100,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were acquired at an average cost of $29.60 per share, for a total transaction of $2,960,000.00. Following the purchase, the insider now directly owns 29,084,998 shares of the company’s stock, valued at approximately $860,915,940.80. The trade was a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 651,000 shares of company stock valued at $17,480,400 in the last quarter. 5.30% of the stock is owned by insiders.

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.