Wealth Enhancement Advisory Services LLC Invests $815,000 in PBF Energy Inc. $PBF

Wealth Enhancement Advisory Services LLC acquired a new stake in PBF Energy Inc. (NYSE:PBF) in the second quarter, according to its most recent filing with the SEC. The fund acquired 37,630 shares of the oil and gas company’s stock, valued at approximately $815,000.

Other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in PBF Energy by 761.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,248 shares during the period. Fifth Third Bancorp increased its position in shares of PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 803 shares during the period. Allworth Financial LP increased its position in shares of PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PBF Energy during the first quarter valued at about $35,000. Finally, Neo Ivy Capital Management purchased a new position in shares of PBF Energy during the first quarter valued at about $37,000. 96.29% of the stock is owned by institutional investors.

Insider Transactions at PBF Energy

In related news, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the sale, the senior vice president owned 173,332 shares in the company, valued at $5,915,821.16. This trade represents a 22.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president owned 207,984 shares of the company’s stock, valued at $7,071,456. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Morgan Stanley increased 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 report on Wednesday, July 16th. Mizuho increased their price target on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Scotiabank reissued a “sector perform” rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Finally, Tudor Pickering cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $26.38.

PBF Energy Price Performance

PBF Energy stock opened at $30.14 on Friday. The firm has a 50-day moving average price of $26.68 and a 200-day moving average price of $22.44. The firm has a market capitalization of $3.49 billion, a PE ratio of -3.51 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $34.29.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. The firm had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business’s revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.6%. PBF Energy’s dividend payout ratio (DPR) is presently -12.81%.

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.