77,668 Shares in PBF Energy Inc. (NYSE:PBF) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,668 shares of the oil and gas company's stock, valued at approximately $2,404,000. Neo Ivy Capital Management owned about 0.07% of PBF Energy at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Dakota Wealth Management purchased a new position in PBF Energy during the 3rd quarter worth $694,000. Intech Investment Management LLC raised its holdings in PBF Energy by 165.9% during the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company's stock worth $1,427,000 after purchasing an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in PBF Energy by 44.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company's stock valued at $1,839,000 after purchasing an additional 18,173 shares during the period. Symmetry Investments LP purchased a new stake in PBF Energy in the 2nd quarter valued at approximately $2,464,000. Finally, Bridgewater Associates LP increased its position in PBF Energy by 40.5% during the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company's stock worth $2,896,000 after purchasing an additional 26,952 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 40,000 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was acquired at an average price of $30.93 per share, for a total transaction of $1,237,200.00. Following the completion of the purchase, the insider now owns 23,407,398 shares in the company, valued at approximately $723,990,820.14. This represents a 0.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 3,568,100 shares of company stock valued at $111,183,331 over the last 90 days. 6.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley reduced their price target on PBF Energy from $48.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. cut shares of PBF Energy from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Bank of America initiated coverage on shares of PBF Energy in a report on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price target for the company. Tudor Pickering upgraded shares of PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. Finally, TD Cowen dropped their target price on shares of PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a report on Friday, November 1st. Five research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.27.

PBF Energy Trading Up 0.4 %

Shares of NYSE PBF traded up $0.12 during midday trading on Wednesday, reaching $30.54. 514,541 shares of the stock were exchanged, compared to its average volume of 2,142,429. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88. The stock has a 50 day moving average price of $31.43 and a 200-day moving average price of $36.34. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.52 billion, a P/E ratio of -11.75 and a beta of 1.57.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business's revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $6.61 EPS. Equities research analysts expect that PBF Energy Inc. will post -2.86 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $0.275 dividend. This is an increase from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.60%. PBF Energy's dividend payout ratio is presently -42.47%.

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.