Raymond James Financial Inc. Takes Position in PBF Energy Inc. (NYSE:PBF)

Raymond James Financial Inc. acquired a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 62,303 shares of the oil and gas company's stock, valued at approximately $1,654,000. Raymond James Financial Inc. owned about 0.05% of PBF Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in PBF. Citigroup Inc. increased its position in shares of PBF Energy by 30.8% in the third quarter. Citigroup Inc. now owns 158,963 shares of the oil and gas company's stock valued at $4,920,000 after acquiring an additional 37,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PBF Energy by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company's stock valued at $782,000 after purchasing an additional 620 shares during the period. Captrust Financial Advisors raised its position in PBF Energy by 32.8% during the 3rd quarter. Captrust Financial Advisors now owns 22,273 shares of the oil and gas company's stock valued at $689,000 after purchasing an additional 5,498 shares during the last quarter. Verition Fund Management LLC bought a new position in PBF Energy during the 3rd quarter valued at approximately $1,918,000. Finally, Point72 Hong Kong Ltd lifted its holdings in PBF Energy by 520.6% in the 3rd quarter. Point72 Hong Kong Ltd now owns 16,700 shares of the oil and gas company's stock worth $517,000 after buying an additional 14,009 shares during the period. Institutional investors own 96.29% of the company's stock.

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Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 100,000 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the transaction, the insider now directly owns 29,084,998 shares of the company's stock, valued at approximately $860,915,940.80. This represents a 0.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 671,000 shares of company stock valued at $17,862,200. Company insiders own 6.70% of the company's stock.

PBF Energy Stock Performance

PBF Energy stock traded down $2.84 during mid-day trading on Thursday, hitting $16.72. The company had a trading volume of 6,634,743 shares, compared to its average volume of 2,234,959. The company's fifty day moving average is $23.61 and its 200-day moving average is $27.95. PBF Energy Inc. has a 12-month low of $16.51 and a 12-month high of $62.88. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -3.55 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

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

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 6.58%. PBF Energy's payout ratio is currently -23.35%.

Analyst Upgrades and Downgrades

PBF has been the subject of a number of recent analyst reports. Mizuho decreased their target price on PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company reduced 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 report on Thursday, March 13th. TD Cowen lowered their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group reduced their target price on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, PBF Energy presently has a consensus rating of "Hold" and an average target price of $25.55.

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.