Principal Financial Group Inc. Has $4.34 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Principal Financial Group Inc. raised its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 1.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 227,352 shares of the oil and gas company’s stock after acquiring an additional 2,514 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of PBF Energy worth $4,340,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PBF. Proficio Capital Partners LLC acquired a new stake in PBF Energy in the 4th quarter valued at about $299,000. Raymond James Financial Inc. acquired a new position in PBF Energy in the fourth quarter valued at $1,654,000. HighTower Advisors LLC increased its stake in PBF Energy by 54.2% in the fourth quarter. HighTower Advisors LLC now owns 22,267 shares of the oil and gas company’s stock valued at $591,000 after purchasing an additional 7,825 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of PBF Energy during the fourth quarter worth about $249,000. Institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Scotiabank restated a “sector perform” rating and set a $25.00 price target (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Mizuho lifted their price target 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. Morgan Stanley lifted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup boosted their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group upgraded 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 report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, PBF Energy has a consensus rating of “Hold” and an average target price of $25.00.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is owned by company insiders.

PBF Energy Stock Down 0.6%

PBF Energy stock opened at $24.84 on Friday. The stock’s fifty day moving average is $22.13 and its two-hundred day moving average is $22.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29. PBF Energy Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $42.64. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -2.73 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) earnings per share 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 analyst estimates of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. PBF Energy’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

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

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.