HighTower Advisors LLC Boosts Stock Holdings in PBF Energy Inc. (NYSE:PBF)

HighTower Advisors LLC boosted its stake in shares of PBF Energy Inc. (NYSE:PBF) by 54.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,267 shares of the oil and gas company’s stock after acquiring an additional 7,825 shares during the period. HighTower Advisors LLC’s holdings in PBF Energy were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PBF. Fortitude Family Office LLC lifted its stake in shares of 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 worth $31,000 after purchasing an additional 1,056 shares during the last quarter. Quarry LP purchased a new stake in shares of PBF Energy during the third quarter valued at about $48,000. Golden State Wealth Management LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at about $61,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of PBF Energy in the 4th quarter worth approximately $68,000. Finally, Spire Wealth Management raised its stake in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 585 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on PBF shares. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Piper Sandler dropped their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. UBS Group decreased their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company decreased their price objective on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, PBF Energy has an average rating of “Hold” and an average target price of $26.36.

PBF Energy Stock Down 1.9 %

NYSE:PBF opened at $18.98 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company’s fifty day moving average price is $24.28 and its 200-day moving average price is $28.21. PBF Energy Inc. has a 1-year low of $18.82 and a 1-year high of $62.88. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.03 and a beta of 1.62.

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

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -23.35%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 46,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $29.70 per share, with a total value of $1,366,200.00. Following the completion of the acquisition, the insider now owns 29,190,998 shares in the company, valued at approximately $866,972,640.60. This trade represents a 0.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 651,000 shares of company stock worth $17,480,400 in the last three months. Company insiders own 5.30% of the company’s stock.

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.