Bridgewater Associates LP Increases Stake in PBF Energy Inc. (NYSE:PBF)

Bridgewater Associates LP lifted its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 40.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,566 shares of the oil and gas company's stock after buying an additional 26,952 shares during the quarter. Bridgewater Associates LP owned about 0.08% of PBF Energy worth $2,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of PBF Energy in the second quarter worth about $26,000. CWM LLC raised its stake 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 buying an additional 569 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy in the 3rd quarter worth about $59,000. Blue Trust Inc. raised its stake in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company's stock valued at $68,000 after buying an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of PBF Energy by 27.9% during the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock valued at $81,000 after buying an additional 573 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Price Performance

PBF traded up $0.10 during trading on Friday, hitting $31.49. 1,053,025 shares of the company's stock were exchanged, compared to its average volume of 1,956,451. PBF Energy Inc. has a 1 year low of $27.94 and a 1 year high of $62.88. The stock has a 50 day moving average price of $31.43 and a 200 day moving average price of $37.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

PBF Energy (NYSE:PBF - Get Free Report) last issued its 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 business had revenue of $8.38 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $6.61 earnings per share. Sell-side analysts expect that PBF Energy Inc. will post -2.86 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently announced 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 represents a $1.10 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, November 13th. This is a boost from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's payout ratio is -42.47%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 57,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $31.70 per share, with a total value of $1,806,900.00. Following the acquisition, the insider now directly owns 26,739,498 shares in the company, valued at approximately $847,642,086.60. The trade was a 0.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have purchased 4,649,400 shares of company stock valued at $147,107,697. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen cut their price target on PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Wells Fargo & Company lowered their price objective on PBF Energy from $51.00 to $39.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered PBF Energy from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Piper Sandler downgraded shares of PBF Energy from a "neutral" rating to an "underweight" rating and cut their target price for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Finally, Morgan Stanley reduced their price target on PBF Energy from $48.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $34.18.

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.