Verdence Capital Advisors LLC Buys 543 Shares of PBF Energy Inc. (NYSE:PBF)

Verdence Capital Advisors LLC lifted its position in shares of PBF Energy Inc. (NYSE:PBF) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,915 shares of the oil and gas company’s stock after purchasing an additional 543 shares during the period. Verdence Capital Advisors LLC’s holdings in PBF Energy were worth $400,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norden Group LLC purchased a new stake in PBF Energy in the first quarter worth $212,000. Inspire Investing LLC bought a new stake in shares of PBF Energy in the first quarter worth approximately $905,000. Headlands Technologies LLC purchased a new position in shares of PBF Energy during the first quarter valued at approximately $82,000. Qsemble Capital Management LP bought a new position in shares of PBF Energy during the 1st quarter valued at $612,000. Finally, US Bancorp DE grew its stake in shares of PBF Energy by 5.3% during the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock valued at $452,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $30.81 on Tuesday. PBF Energy Inc. has a fifty-two week low of $27.94 and a fifty-two week high of $62.88. The firm has a market capitalization of $3.55 billion, a PE ratio of -11.94 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The stock’s fifty day moving average is $31.82 and its 200 day moving average is $39.30.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the company earned $6.61 EPS. The business’s revenue was down 21.9% compared to the same quarter last year. On average, sell-side analysts anticipate that PBF Energy Inc. will post -2.73 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.57%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy’s dividend payout ratio is presently -38.61%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital acquired 510,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $33.18 per share, with a total value of $16,921,800.00. Following the transaction, the insider now directly owns 19,129,598 shares of the company’s stock, valued at $634,720,061.64. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 4,492,400 shares of company stock worth $142,172,797 over the last three months. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PBF shares. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $53.00 to $40.00 in a research report on Wednesday, October 2nd. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. TD Cowen reduced their target price on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.18.

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.