Hotchkis & Wiley Capital Management LLC Takes Position in PBF Energy Inc. (NYSE:PBF)

Hotchkis & Wiley Capital Management LLC purchased a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 339,440 shares of the oil and gas company's stock, valued at approximately $10,506,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.29% of PBF Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. National Bank of Canada FI acquired a new stake in PBF Energy in the 2nd quarter valued at $26,000. CWM LLC grew its holdings in shares of PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company's stock valued at $50,000 after acquiring an additional 569 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in PBF Energy during the third quarter worth about $59,000. Blue Trust Inc. boosted its position 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 purchasing an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 573 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of analyst reports. Tudor, Pickering, Holt & Co. cut PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Tudor Pickering raised shares of PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. 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 target price on the stock. Mizuho reduced their price target on PBF Energy from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Finally, BMO Capital Markets lowered PBF Energy from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $42.00 to $35.00 in a research note on Friday, October 4th. 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. Based on data from MarketBeat, PBF Energy has an average rating of "Hold" and a consensus price target of $34.18.

PBF Energy Stock Performance

Shares of PBF Energy stock traded down $0.50 during trading on Thursday, reaching $30.81. The company's stock had a trading volume of 1,430,125 shares, compared to its average volume of 2,156,954. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $31.47 and its 200-day moving average price is $36.79. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. The firm has a market cap of $3.55 billion, a PE ratio of -11.89 and a beta of 1.57.

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

PBF Energy Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's dividend payout ratio (DPR) is -42.47%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 250,000 shares of the firm's stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $31.78 per share, with a total value of $7,945,000.00. Following the acquisition, the insider now directly owns 22,952,398 shares in the company, valued at $729,427,208.44. This represents a 1.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 3,938,100 shares of company stock valued at $122,901,631 in the last three months. Corporate insiders own 5.30% of the company's stock.

PBF Energy Company 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.