Aegis Financial Corp Makes New Investment in PBF Energy Inc. $PBF

Aegis Financial Corp purchased a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 620,460 shares of the oil and gas company’s stock, valued at approximately $13,445,000. PBF Energy makes up 7.9% of Aegis Financial Corp’s portfolio, making the stock its 4th biggest position. Aegis Financial Corp owned approximately 0.54% of PBF Energy at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its stake in PBF Energy by 170.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after buying an additional 3,612,447 shares during the last quarter. American Century Companies Inc. increased its position in shares of PBF Energy by 1.7% in the first quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock valued at $36,231,000 after acquiring an additional 32,285 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PBF Energy by 12.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock worth $31,981,000 after acquiring an additional 182,456 shares in the last quarter. Northern Trust Corp boosted its position in PBF Energy by 0.8% during the first quarter. Northern Trust Corp now owns 1,390,455 shares of the oil and gas company’s stock valued at $26,544,000 after purchasing an additional 11,499 shares during the last quarter. Finally, Invesco Ltd. boosted its position in PBF Energy by 13.4% during the first quarter. Invesco Ltd. now owns 1,144,734 shares of the oil and gas company’s stock valued at $21,853,000 after purchasing an additional 135,318 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PBF. Mizuho boosted their price target on PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Piper Sandler boosted their target price on shares of PBF Energy from $29.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday. Cowen reiterated a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. The Goldman Sachs Group lifted their price objective on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen upped their target price on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Strong Sell” and an average price target of $28.92.

Insiders Place Their Bets

In other news, Director Thomas J. Nimbley sold 250,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.51, for a total value of $8,627,500.00. Following the completion of the sale, the director directly owned 790,716 shares of the company’s stock, valued at $27,287,609.16. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Steven John Andriola sold 1,048 shares of PBF Energy stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total value of $36,040.72. Following the transaction, the chief accounting officer directly owned 20,974 shares in the company, valued at approximately $721,295.86. The trade was a 4.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 507,045 shares of company stock worth $18,193,421 in the last 90 days. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $38.92 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $41.47. The stock’s 50 day moving average is $31.91 and its 200-day moving average is $25.93. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -8.37 and a beta of 0.79.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter in the prior year, the company posted ($1.50) earnings per share. The business’s revenue was down 8.7% on a year-over-year basis. Sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio is currently -23.66%.

PBF Energy 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.