Fortitude Family Office LLC Acquires 1,056 Shares of PBF Energy Inc. (NYSE:PBF)

Fortitude Family Office LLC raised its stake in shares of PBF Energy Inc. (NYSE:PBF) by 968.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165 shares of the oil and gas company’s stock after buying an additional 1,056 shares during the period. Fortitude Family Office LLC’s holdings in PBF Energy were worth $31,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of PBF Energy by 391.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after acquiring an additional 1,226,909 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of PBF Energy by 132.6% in the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after purchasing an additional 492,053 shares during the period. Recurrent Investment Advisors LLC acquired a new stake in shares of PBF Energy in the third quarter worth $11,516,000. Hsbc Holdings PLC boosted its holdings in shares of PBF Energy by 246.5% during the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after buying an additional 355,329 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in PBF Energy in the 3rd quarter valued at $10,506,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Trading Up 3.6 %

PBF stock opened at $28.02 on Friday. PBF Energy Inc. has a 1-year low of $24.21 and a 1-year high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $29.12 and its 200-day moving average is $33.38. The firm has a market cap of $3.23 billion, a P/E ratio of -10.82 and a beta of 1.61.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s revenue was down 21.9% on a year-over-year basis. During the same quarter last year, the company earned $6.61 earnings per share. Equities analysts anticipate that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.275 per share. 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 3.93%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 70,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the purchase, the insider now directly owns 28,884,998 shares of the company’s stock, valued at $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 3,369,600 shares of company stock worth $102,820,721 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBF. Scotiabank cut their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Piper Sandler downgraded shares of PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.00.

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.