Tidal Investments LLC Takes $1.64 Million Position in PBF Energy Inc. (NYSE:PBF)

Tidal Investments LLC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 53,066 shares of the oil and gas company’s stock, valued at approximately $1,642,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC boosted its holdings in PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares in the last quarter. Spirit of America Management Corp NY boosted its holdings in PBF Energy by 25.1% in the second quarter. Spirit of America Management Corp NY now owns 59,750 shares of the oil and gas company’s stock worth $2,750,000 after purchasing an additional 12,000 shares in the last quarter. Highland Capital Management LLC boosted its holdings in PBF Energy by 14.2% in the second quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $202,000 after purchasing an additional 546 shares in the last quarter. Bailard Inc. bought a new stake in PBF Energy in the second quarter worth $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PBF Energy by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,662 shares of the oil and gas company’s stock worth $1,135,000 after purchasing an additional 2,638 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Bank of America assumed coverage on shares of PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price for the company. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Finally, Morgan Stanley cut their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Six analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.09.

PBF Energy Stock Up 0.3 %

Shares of PBF opened at $27.92 on Wednesday. The company has a 50-day simple moving average of $31.06 and a 200-day simple moving average of $35.58. The firm has a market capitalization of $3.21 billion, a P/E ratio of -10.78 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy Inc. has a 52 week low of $27.27 and a 52 week high of $62.88.

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

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.94%. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 250,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average price of $31.78 per share, for a total transaction of $7,945,000.00. Following the completion of the purchase, the insider now directly owns 22,952,398 shares in the company, valued at approximately $729,427,208.44. This trade represents a 1.10 % 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 hyperlink. Insiders acquired a total of 3,568,100 shares of company stock worth $111,183,331 over the last quarter. Company insiders own 5.30% of the company’s stock.

About PBF Energy

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.