PBF Energy Inc. (NYSE:PBF) Shares Acquired by Private Management Group Inc.

Private Management Group Inc. boosted its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 27.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 848,696 shares of the oil and gas company's stock after purchasing an additional 183,183 shares during the quarter. Private Management Group Inc. owned about 0.72% of PBF Energy worth $26,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Systems of Alabama boosted its holdings in PBF Energy by 0.3% in the first quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company's stock worth $7,863,000 after acquiring an additional 359 shares in the last quarter. US Bancorp DE grew its position in PBF Energy by 5.3% during the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company's stock valued at $452,000 after purchasing an additional 395 shares during the last quarter. Nisa Investment Advisors LLC grew its position in PBF Energy by 1.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company's stock valued at $893,000 after purchasing an additional 485 shares during the last quarter. Highland Capital Management LLC increased its stake in PBF Energy by 14.2% during the 2nd quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company's stock valued at $202,000 after purchasing an additional 546 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in PBF Energy in the second quarter worth about $26,000. Institutional investors own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PBF. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, September 9th. Wolfe Research initiated coverage on PBF Energy in a research note on Thursday, July 18th. They issued a "peer perform" rating for the company. Piper Sandler cut PBF Energy from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $47.00 to $25.00 in a research report on Friday, September 20th. The Goldman Sachs Group decreased their target price on PBF Energy from $45.00 to $39.00 and set a "neutral" rating for the company in a research report on Friday, October 4th. Finally, Bank of America started coverage on shares of PBF Energy in a research note on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price target for the company. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of "Hold" and a consensus target price of $34.45.

PBF Energy Stock Down 1.5 %

Shares of PBF traded down $0.44 during midday trading on Friday, reaching $28.08. 2,739,952 shares of the stock were exchanged, compared to its average volume of 2,387,155. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. 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 $3.29 billion, a P/E ratio of -10.84 and a beta of 1.56. The company's 50 day moving average is $32.15 and its two-hundred day moving average is $40.36.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.40) by ($0.10). PBF Energy had a negative return on equity of 2.78% and a negative net margin of 0.84%. The company had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the prior year, the firm posted $6.61 EPS. The firm's revenue for the quarter was down 21.9% on a year-over-year basis. On average, sell-side analysts anticipate that PBF Energy Inc. will post -2.27 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's payout ratio is currently -38.61%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 300,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $29.01 per share, with a total value of $8,703,000.00. Following the completion of the purchase, the insider now directly owns 25,640,498 shares of the company's stock, valued at approximately $743,830,846.98. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 4,307,400 shares of company stock valued at $137,242,347 in the last three months. 5.30% of the stock is currently owned by company insiders.

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.