JPMorgan Chase & Co. Purchases 562,287 Shares of PBF Energy Inc. (NYSE:PBF)

JPMorgan Chase & Co. lifted its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 60.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,492,573 shares of the oil and gas company's stock after buying an additional 562,287 shares during the period. JPMorgan Chase & Co. owned approximately 1.30% of PBF Energy worth $39,628,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Captrust Financial Advisors boosted its holdings in shares of PBF Energy by 32.8% in the 3rd quarter. Captrust Financial Advisors now owns 22,273 shares of the oil and gas company's stock worth $689,000 after buying an additional 5,498 shares during the last quarter. Quarry LP purchased a new position in PBF Energy in the third quarter valued at about $48,000. Quadrature Capital Ltd purchased a new position in PBF Energy in the third quarter valued at about $927,000. XTX Topco Ltd bought a new position in shares of PBF Energy during the 3rd quarter valued at approximately $1,415,000. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of PBF Energy by 108.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company's stock worth $1,359,000 after purchasing an additional 22,852 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 100,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were purchased at an average price of $29.60 per share, for a total transaction of $2,960,000.00. Following the transaction, the insider now owns 29,084,998 shares in the company, valued at $860,915,940.80. This represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders acquired 812,000 shares of company stock worth $20,207,980. 5.30% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Mizuho dropped their price target on PBF Energy from $28.00 to $22.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Piper Sandler decreased 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. TD Cowen dropped their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank reduced their target price on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a research note on Friday. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, PBF Energy has an average rating of "Hold" and an average price target of $24.18.

PBF Energy Price Performance

NYSE PBF traded up $0.50 on Friday, hitting $15.44. The stock had a trading volume of 3,422,638 shares, compared to its average volume of 2,343,645. The firm has a 50-day moving average of $21.02 and a 200-day moving average of $26.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. PBF Energy Inc. has a 52-week low of $13.62 and a 52-week high of $60.98. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -3.28 and a beta of 1.15.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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%.

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.