Brown Advisory Inc. Invests $230,000 in PBF Energy Inc. (NYSE:PBF)

Brown Advisory Inc. acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,069 shares of the oil and gas company’s stock, valued at approximately $230,000.

A number of other hedge funds have also modified their holdings of PBF. Proficio Capital Partners LLC purchased a new position in shares of PBF Energy during the 4th quarter worth approximately $299,000. Raymond James Financial Inc. purchased a new position in shares of PBF Energy during the 4th quarter worth approximately $1,654,000. HighTower Advisors LLC increased its stake in shares of PBF Energy by 54.2% during the 4th quarter. HighTower Advisors LLC now owns 22,267 shares of the oil and gas company’s stock worth $591,000 after purchasing an additional 7,825 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 614 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in PBF Energy in the 4th quarter worth approximately $249,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 48,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the acquisition, the insider directly owned 30,823,498 shares of the company’s stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday. Scotiabank reiterated a “sector perform” rating and issued a $25.00 price target (up from $16.00) on shares of PBF Energy in a report on Friday, July 11th. UBS Group upgraded PBF Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Piper Sandler cut their price target on PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, May 2nd. Finally, The Goldman Sachs Group cut their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.00.

PBF Energy Stock Down 7.0%

Shares of NYSE PBF opened at $25.00 on Thursday. The firm has a fifty day moving average of $22.02 and a 200-day moving average of $22.25. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. PBF Energy Inc. has a 52-week low of $13.62 and a 52-week high of $42.64. The stock has a market capitalization of $2.89 billion, a PE ratio of -2.75 and a beta of 0.84.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping analysts’ consensus estimates of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The firm’s revenue was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. On average, analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.40%. The ex-dividend date was Thursday, May 15th. PBF Energy’s dividend payout ratio (DPR) is -12.09%.

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.