170,060 Shares in PBF Energy Inc. (NYSE:PBF) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new stake in PBF Energy Inc. (NYSE:PBF) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 170,060 shares of the oil and gas company’s stock, valued at approximately $4,515,000.

A number of other hedge funds have also recently added to or reduced their stakes in PBF. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of PBF Energy by 391.9% during the third 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 purchasing an additional 1,226,909 shares in the last quarter. BNP Paribas Financial Markets boosted its position in PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock worth $26,717,000 after buying an additional 492,053 shares during the period. Van ECK Associates Corp boosted its position 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 worth $10,920,000 after buying an additional 392,776 shares during the period. Recurrent Investment Advisors LLC bought a new stake in PBF Energy during the 3rd quarter worth approximately $11,516,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in PBF Energy in the 3rd quarter valued at approximately $10,506,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 155,000 shares of PBF Energy stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 1,062,500 shares of company stock valued at $28,442,290 over the last ninety days. 5.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday. Piper Sandler cut 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 decreased their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. UBS Group lowered their price objective 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, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the company 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 stock. According to MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus price target of $28.27.

PBF Energy Trading Down 1.7 %

NYSE:PBF opened at $19.69 on Friday. PBF Energy Inc. has a 12 month low of $18.97 and a 12 month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -4.18 and a beta of 1.62. The firm has a fifty day simple moving average of $26.06 and a two-hundred day simple moving average of $29.19.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS 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. Analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.59%. PBF Energy’s dividend payout ratio is -23.35%.

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.