KLP Kapitalforvaltning AS Buys New Shares in PBF Energy Inc. (NYSE:PBF)

KLP Kapitalforvaltning AS purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,700 shares of the oil and gas company's stock, valued at approximately $1,187,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company's stock valued at $26,717,000 after buying an additional 492,053 shares during the period. Van ECK Associates Corp lifted its position in PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock valued at $10,920,000 after acquiring an additional 392,776 shares during the period. Recurrent Investment Advisors LLC bought a new stake in PBF Energy during the third quarter worth about $11,516,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in PBF Energy in the third quarter worth about $10,506,000. Finally, Private Management Group Inc. grew its holdings in PBF Energy by 24.6% in the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company's stock worth $28,071,000 after purchasing an additional 208,599 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital acquired 155,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $20.20 per share, with a total value of $3,131,000.00. Following the transaction, the insider now directly owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. This represents a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 671,000 shares of company stock worth $17,862,200 in the last three months. Corporate insiders own 6.70% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PBF shares. Morgan Stanley dropped their price target on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Piper Sandler reduced their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Mizuho dropped their target price on shares of PBF Energy from $28.00 to $22.00 and set an "underperform" rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $25.55.

PBF Energy Stock Performance

PBF Energy stock traded down $2.84 during mid-day trading on Thursday, reaching $16.72. 6,634,743 shares of the stock traded hands, compared to its average volume of 2,234,959. PBF Energy Inc. has a 12-month low of $16.51 and a 12-month high of $62.88. The business's 50-day moving average is $23.34 and its 200-day moving average is $27.87. 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 market capitalization of $1.93 billion, a PE ratio of -3.55 and a beta of 1.62.

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) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The business 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%. As a group, sell-side analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy's payout ratio is -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.