Creative Planning Acquires 36,571 Shares of PBF Energy Inc. $PBF

Creative Planning grew its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 64.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 92,976 shares of the oil and gas company’s stock after acquiring an additional 36,571 shares during the period. Creative Planning owned about 0.08% of PBF Energy worth $2,015,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PBF. MassMutual Private Wealth & Trust FSB increased its holdings in PBF Energy by 761.0% in the second 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. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PBF Energy in the 1st quarter valued at about $35,000. Activest Wealth Management grew its position in shares of PBF Energy by 199,900.0% in the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 1,999 shares during the last quarter. UMB Bank n.a. increased its stake in shares of PBF Energy by 67.2% in the second quarter. UMB Bank n.a. now owns 1,993 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 801 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in shares of PBF Energy by 66.2% during the second quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 818 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analysts Set New Price Targets

PBF has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research note on Wednesday, November 19th. Piper Sandler lifted their target price on shares of PBF Energy from $29.00 to $42.00 and gave the stock an “underweight” rating in a research note on Friday, November 14th. Tudor Pickering lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Finally, Mizuho increased their price target on PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, September 15th. One investment 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 data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus price target of $28.92.

PBF Energy Trading Down 1.0%

Shares of PBF Energy stock opened at $34.38 on Wednesday. The stock has a market capitalization of $3.98 billion, a PE ratio of -7.39 and a beta of 0.79. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $41.47. The stock has a 50 day moving average price of $32.96 and a two-hundred day moving average price of $26.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same period last year, the business earned ($1.50) EPS. PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is currently -23.66%.

Insider Activity at PBF Energy

In related news, Director Thomas J. Nimbley sold 250,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total value of $8,627,500.00. Following the sale, the director owned 790,716 shares in the company, valued at $27,287,609.16. This represents a 24.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Paul T. Davis sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the senior vice president directly owned 192,391 shares in the company, valued at approximately $7,310,858. The trade was a 20.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 507,045 shares of company stock valued at $18,193,421 over the last quarter. 6.70% of the stock is currently owned by company insiders.

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.