15,734 Shares in PBF Energy Inc. (NYSE:PBF) Bought by M&T Bank Corp

M&T Bank Corp bought a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,734 shares of the oil and gas company’s stock, valued at approximately $300,000.

Several other large investors have also recently added to or reduced their stakes in PBF. Proficio Capital Partners LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $299,000. Raymond James Financial Inc. bought a new stake in shares of PBF Energy in the 4th quarter worth about $1,654,000. HighTower Advisors LLC increased its position in shares of PBF Energy by 54.2% in 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 during the last quarter. EverSource Wealth Advisors LLC grew its position 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 valued at $65,000 after buying an additional 614 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in PBF Energy during the 4th quarter valued at about $249,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Stock Down 0.6%

Shares of NYSE PBF opened at $24.84 on Friday. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $42.64. The firm has a market cap of $2.87 billion, a PE ratio of -2.73 and a beta of 0.84. The company’s fifty day simple moving average is $22.13 and its 200 day simple moving average is $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 (NYSE:PBF) last released its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. The company 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% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. As a group, sell-side analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a yield of 4.43%. PBF Energy’s dividend payout ratio is currently -12.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PBF shares. UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. Morgan Stanley boosted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup lifted their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday. Mizuho upped their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Tuesday, May 13th. Finally, Scotiabank reissued a “sector perform” rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average target price of $25.00.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the acquisition, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. The trade was a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 5.30% of the stock is currently 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.