Heartland Advisors Inc. Buys New Shares in PBF Energy Inc. (NYSE:PBF)

Heartland Advisors Inc. acquired a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 53,482 shares of the oil and gas company's stock, valued at approximately $1,420,000.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC increased its position in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP bought a new position in PBF Energy during the third quarter valued at about $48,000. Golden State Wealth Management LLC acquired a new position in PBF Energy during the fourth quarter worth about $61,000. EverSource Wealth Advisors LLC raised its position in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 46,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $29.70 per share, with a total value of $1,366,200.00. Following the transaction, the insider now owns 29,190,998 shares of the company's stock, valued at approximately $866,972,640.60. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have bought 671,000 shares of company stock worth $17,862,200. 6.70% of the stock is owned by insiders.

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Analysts Set New Price Targets

PBF has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Mizuho cut their price objective on PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday. The Goldman Sachs Group reduced their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. 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 research report on Friday, March 7th. Finally, Morgan Stanley decreased their price target on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $25.55.

PBF Energy Stock Up 1.7 %

Shares of PBF traded up $0.33 during mid-day trading on Wednesday, hitting $19.59. 683,161 shares of the company's stock were exchanged, compared to its average volume of 2,208,812. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -4.16 and a beta of 1.62. The firm has a fifty day moving average of $23.81 and a two-hundred day moving average of $28.01. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a twelve month low of $18.20 and a twelve month high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last posted 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 return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 5.62%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio is currently -23.35%.

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.