Golden State Wealth Management LLC Has $63,000 Stake in PBF Energy Inc. (NYSE:PBF)

Golden State Wealth Management LLC increased its position in shares of PBF Energy Inc. (NYSE:PBF) by 43.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,300 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the period. Golden State Wealth Management LLC’s holdings in PBF Energy were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PBF. Canada Pension Plan Investment Board increased its holdings in shares of PBF Energy by 5.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company’s stock valued at $8,929,000 after purchasing an additional 17,400 shares during the last quarter. Norges Bank acquired a new position in shares of PBF Energy in the fourth quarter valued at $20,896,000. Heartland Advisors Inc. acquired a new position in shares of PBF Energy in the fourth quarter valued at $1,420,000. Nuveen Asset Management LLC increased its holdings in shares of PBF Energy by 94.7% in the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company’s stock valued at $15,104,000 after purchasing an additional 276,672 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of PBF Energy in the fourth quarter valued at $1,654,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on PBF. TD Cowen decreased their price objective 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. JPMorgan Chase & Co. decreased 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 decreased their price objective on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Scotiabank decreased their price objective on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Finally, Piper Sandler reduced their target price on shares of PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.18.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $23.96 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.77 billion, a PE ratio of -2.63 and a beta of 0.84. The company has a 50 day moving average of $20.61 and a 200-day moving average of $22.15. PBF Energy Inc. has a 1-year low of $13.62 and a 1-year high of $44.10.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company’s revenue was down 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.59%. PBF Energy’s payout ratio is currently -12.09%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 48,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have purchased 78,500 shares of company stock worth $1,298,815. Insiders own 6.70% of the company’s stock.

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.