Van ECK Associates Corp Increases Stake in PBF Energy Inc. (NYSE:PBF)

Van ECK Associates Corp lifted its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 2,119.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 411,307 shares of the oil and gas company's stock after acquiring an additional 392,776 shares during the quarter. Van ECK Associates Corp owned approximately 0.36% of PBF Energy worth $10,920,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in PBF Energy in the 3rd quarter worth approximately $2,404,000. Dakota Wealth Management purchased a new stake in shares of PBF Energy during the 3rd quarter worth approximately $694,000. Intech Investment Management LLC raised its holdings in shares of PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company's stock worth $1,427,000 after acquiring an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of PBF Energy by 44.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company's stock worth $1,839,000 after acquiring an additional 18,173 shares in the last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of PBF Energy by 40.5% during the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company's stock worth $2,896,000 after acquiring an additional 26,952 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 409,000 shares of PBF Energy stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the completion of the purchase, the insider now directly owns 27,368,498 shares in the company, valued at $864,297,166.84. This trade represents a 1.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders acquired 1,868,500 shares of company stock valued at $55,348,810. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group decreased their price target on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday. TD Cowen lowered PBF Energy from a "hold" rating to a "sell" rating and reduced their target price for the stock from $27.00 to $20.00 in a research note on Friday, December 20th. StockNews.com downgraded PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. The Goldman Sachs Group dropped their price target on PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 10th. Finally, Mizuho downgraded PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $29.55.

PBF Energy Stock Down 2.4 %

NYSE PBF traded down $0.58 during trading on Thursday, hitting $23.81. The company's stock had a trading volume of 3,909,879 shares, compared to its average volume of 2,353,222. 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 company has a market cap of $2.74 billion, a PE ratio of -5.05 and a beta of 1.60. The business's 50 day simple moving average is $27.74 and its 200-day simple moving average is $30.78. PBF Energy Inc. has a fifty-two week low of $22.03 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last issued 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 business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, equities analysts anticipate that PBF Energy Inc. will post -0.97 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, February 27th. PBF Energy's dividend payout ratio is presently -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.