Nuveen Asset Management LLC Boosts Position in PBF Energy Inc. (NYSE:PBF)

Nuveen Asset Management LLC lifted its stake in shares of PBF Energy Inc. (NYSE:PBF) by 94.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 568,901 shares of the oil and gas company’s stock after acquiring an additional 276,672 shares during the period. Nuveen Asset Management LLC owned 0.49% of PBF Energy worth $15,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PBF. Janney Montgomery Scott LLC purchased a new stake in PBF Energy in the 4th quarter valued at about $200,000. Mutual Advisors LLC raised its holdings in PBF Energy by 49.1% in the 4th quarter. Mutual Advisors LLC now owns 23,729 shares of the oil and gas company’s stock valued at $630,000 after buying an additional 7,818 shares during the period. Avior Wealth Management LLC raised its holdings in PBF Energy by 58.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $80,000 after buying an additional 1,100 shares during the period. Blue Trust Inc. raised its holdings in PBF Energy by 100.5% in the 4th quarter. Blue Trust Inc. now owns 4,378 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,194 shares during the period. Finally, KBC Group NV raised its holdings in PBF Energy by 48.2% in the 4th quarter. KBC Group NV now owns 4,174 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 1,357 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $20.32 on Monday. PBF Energy Inc. has a one year low of $13.62 and a one year high of $49.87. The company has a market cap of $2.35 billion, a PE ratio of -4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The business has a 50-day simple moving average of $18.14 and a 200-day simple moving average of $24.12.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. On average, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Thursday, May 15th. PBF Energy’s dividend payout ratio (DPR) is -12.09%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PBF. JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Scotiabank cut their price target on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Piper Sandler cut their price target on shares of PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, May 2nd. Finally, TD Cowen cut their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.91.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $20.20 per share, with a total value of $3,131,000.00. Following the completion of the acquisition, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This trade represents a 0.52% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 331,000 shares of company stock valued at $6,075,180 over the last three months. 5.30% of the stock is owned by corporate insiders.

About PBF Energy

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.