KLP Kapitalforvaltning AS Takes Position in PBF Energy Inc. (NYSE:PBF)

KLP Kapitalforvaltning AS purchased a new position in shares of PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 44,700 shares of the oil and gas company’s stock, valued at approximately $1,187,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of PBF Energy by 132.6% during 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 acquiring an additional 492,053 shares in the last quarter. Van ECK Associates Corp increased its stake in PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after purchasing an additional 392,776 shares in the last quarter. Recurrent Investment Advisors LLC acquired a new position in PBF Energy during the third quarter worth $11,516,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PBF Energy in the third quarter valued at $10,506,000. Finally, Private Management Group Inc. grew its holdings in shares of PBF Energy by 24.6% during the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company’s stock valued at $28,071,000 after buying an additional 208,599 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

PBF has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. 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 report on Friday, March 7th. The Goldman Sachs Group cut their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday. UBS Group lowered their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.36.

PBF Energy Trading Down 1.9 %

NYSE PBF opened at $18.98 on Friday. The business’s fifty day moving average is $24.28 and its 200-day moving average is $28.21. 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 stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -4.03 and a beta of 1.62. PBF Energy Inc. has a one year low of $18.82 and a one year high of $62.88.

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

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.80%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average cost of $29.60 per share, for a total transaction of $2,960,000.00. Following the purchase, the insider now owns 29,084,998 shares of the company’s stock, valued at approximately $860,915,940.80. The trade was a 0.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have bought 651,000 shares of company stock worth $17,480,400. 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.