Norges Bank Makes New $20.90 Million Investment in PBF Energy Inc. (NYSE:PBF)

Norges Bank bought a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 787,051 shares of the oil and gas company's stock, valued at approximately $20,896,000. Norges Bank owned approximately 0.68% of PBF Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Xponance Inc. boosted its position in PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock worth $375,000 after purchasing an additional 364 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of PBF Energy by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock worth $1,084,000 after buying an additional 459 shares during the last quarter. Spire Wealth Management grew its position in PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after buying an additional 585 shares during the period. EverSource Wealth Advisors LLC increased its holdings in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after buying an additional 614 shares during the last quarter. Finally, LPL Financial LLC raised its position in PBF Energy by 3.2% in the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock worth $632,000 after acquiring an additional 748 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 15,000 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of $13.98 per share, for a total transaction of $209,700.00. Following the purchase, the insider now directly owns 30,757,998 shares of the company's stock, valued at $429,996,812.04. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have acquired 812,000 shares of company stock worth $20,207,980. Corporate insiders own 5.30% of the company's stock.

PBF Energy Price Performance

Shares of PBF traded up $0.50 during midday trading on Friday, hitting $15.44. 3,422,638 shares of the company traded hands, compared to its average volume of 2,343,645. PBF Energy Inc. has a one year low of $13.62 and a one year high of $60.98. The firm has a market cap of $1.78 billion, a P/E ratio of -3.28 and a beta of 1.15. 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 50-day moving average of $21.02 and a 200-day moving average of $26.92.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $7.25 billion. As a group, sell-side analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 7.13%. PBF Energy's payout ratio is currently -23.35%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PBF. JPMorgan Chase & Co. reduced their target price on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Piper Sandler reduced their price objective on PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Friday, March 7th. UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Mizuho cut their price target on PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group lowered their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.18.

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.