Cibc World Markets Corp Makes New $249,000 Investment in PBF Energy Inc. (NYSE:PBF)

Cibc World Markets Corp acquired a new stake in PBF Energy Inc. (NYSE:PBF) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,391 shares of the oil and gas company’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PBF. Fortitude Family Office LLC raised its stake in PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,056 shares during the last quarter. Quarry LP purchased a new stake in shares of PBF Energy during the third quarter worth approximately $48,000. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy during the fourth quarter worth $61,000. EverSource Wealth Advisors LLC grew its position in PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 614 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in PBF Energy in the 4th quarter valued at $68,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $20.20 per share, for a total transaction of $3,131,000.00. Following the acquisition, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This represents a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders bought 721,000 shares of company stock valued at $19,269,600. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PBF shares. Morgan Stanley reduced their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group lowered their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler reduced their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Finally, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.36.

PBF Energy Stock Performance

NYSE PBF opened at $19.23 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $62.88. The business has a fifty day moving average of $24.98 and a 200-day moving average of $28.45. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -4.08 and a beta of 1.62.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. As a group, analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 5.72%. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

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.