Dakota Wealth Management Acquires New Position in PBF Energy Inc. (NYSE:PBF)

Dakota Wealth Management bought a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,421 shares of the oil and gas company's stock, valued at approximately $694,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in shares of PBF Energy during the 2nd quarter valued at about $26,000. CWM LLC increased its stake in shares of 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 purchasing an additional 569 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of PBF Energy by 1,291.1% during the 3rd 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 in the last quarter. Headlands Technologies LLC bought a new position in shares of PBF Energy in the first quarter worth about $82,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of PBF Energy by 152.9% during the first quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 1,252 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 287,100 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were acquired at an average cost of $31.91 per share, for a total transaction of $9,161,361.00. Following the acquisition, the insider now directly owns 24,751,498 shares in the company, valued at approximately $789,820,301.18. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have acquired 4,239,400 shares of company stock worth $138,211,387. 6.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PBF. Tudor Pickering raised shares of PBF Energy to a "strong sell" rating in a report on Monday, September 9th. Wells Fargo & Company dropped their price target 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. Piper Sandler cut shares of PBF Energy from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. Mizuho decreased their price objective on PBF Energy from $42.00 to $36.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped their target price on PBF Energy from $45.00 to $39.00 and set a "neutral" rating for the company in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $36.09.

PBF Energy Stock Performance

PBF Energy stock traded down $0.58 during mid-day trading on Monday, hitting $31.60. The company had a trading volume of 1,442,722 shares, compared to its average volume of 2,144,225. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 5.31 and a beta of 1.55. The company's fifty day moving average is $32.69 and its 200-day moving average is $41.28. PBF Energy Inc. has a 12-month low of $30.17 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion for the quarter, compared to analysts' expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company's quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS. Equities research analysts predict that PBF Energy Inc. will post -2.27 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Thursday, August 15th. PBF Energy's dividend payout ratio is currently 16.64%.

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.