PBF Energy Inc. (NYSE:PBF) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 194.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,651 shares of the oil and gas company’s stock after buying an additional 1,090 shares during the quarter. Allworth Financial LP’s holdings in PBF Energy were worth $32,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PBF. Canada Pension Plan Investment Board lifted its position in PBF Energy by 5.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company’s stock worth $8,929,000 after acquiring an additional 17,400 shares during the period. Norges Bank purchased a new stake in shares of PBF Energy during the fourth quarter worth approximately $20,896,000. Heartland Advisors Inc. acquired a new stake in shares of PBF Energy during the fourth quarter worth $1,420,000. Bank of New York Mellon Corp grew its position in PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after buying an additional 260,464 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in PBF Energy by 94.7% in the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company’s stock valued at $15,104,000 after buying an additional 276,672 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of PBF stock opened at $24.38 on Friday. The stock has a fifty day moving average price of $22.21 and a 200 day moving average price of $22.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29. The stock has a market cap of $2.82 billion, a PE ratio of -2.68 and a beta of 0.84. PBF Energy Inc. has a 1 year low of $13.62 and a 1 year high of $42.64.

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 for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was down 18.3% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 annualized dividend and a yield of 4.51%. PBF Energy’s dividend payout ratio (DPR) is currently -12.09%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 48,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares of the company’s stock, valued at $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 note on Friday, May 2nd. Citigroup increased their price target on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group lowered their price objective on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Mizuho boosted their target price on PBF Energy from $22.00 to $23.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 13th. Finally, Scotiabank reissued a “sector perform” rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $25.00.

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.