PBF Energy Inc. (NYSE:PBF) Shares Bought by Covestor Ltd

Covestor Ltd lifted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 64.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,780 shares of the oil and gas company’s stock after buying an additional 1,091 shares during the period. Covestor Ltd’s holdings in PBF Energy were worth $86,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in PBF Energy in the first quarter worth about $82,000. US Bancorp DE lifted its stake in shares of PBF Energy by 5.3% in the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock worth $452,000 after acquiring an additional 395 shares during the period. ProShare Advisors LLC lifted its stake in shares of PBF Energy by 3.9% in the 1st quarter. ProShare Advisors LLC now owns 25,145 shares of the oil and gas company’s stock worth $1,448,000 after acquiring an additional 942 shares during the period. Twin Tree Management LP boosted its holdings in shares of PBF Energy by 204.1% in the first quarter. Twin Tree Management LP now owns 175,915 shares of the oil and gas company’s stock valued at $10,127,000 after acquiring an additional 118,065 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of PBF Energy by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after acquiring an additional 48,525 shares during the period. 96.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital bought 40,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was bought at an average price of $30.93 per share, for a total transaction of $1,237,200.00. Following the transaction, the insider now directly owns 23,407,398 shares in the company, valued at $723,990,820.14. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders acquired 4,492,400 shares of company stock worth $142,172,797. 5.30% of the stock is currently owned by company insiders.

PBF Energy Stock Up 1.7 %

PBF stock opened at $30.34 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a market capitalization of $3.49 billion, a P/E ratio of -11.71 and a beta of 1.56. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88. The company’s 50 day simple moving average is $31.69 and its 200-day simple moving average is $38.92.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period last year, the firm earned $6.61 earnings per share. As a group, equities research analysts anticipate that PBF Energy Inc. will post -2.79 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.275 dividend. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy’s dividend payout ratio is currently -38.61%.

Analyst Ratings Changes

PBF has been the subject of a number of research analyst reports. UBS Group cut their target price on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Scotiabank cut their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.18.

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.