Verition Fund Management LLC Invests $1.92 Million in PBF Energy Inc. (NYSE:PBF)

Verition Fund Management LLC bought a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,961 shares of the oil and gas company's stock, valued at approximately $1,918,000. Verition Fund Management LLC owned 0.05% of PBF Energy as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PBF. Leavell Investment Management Inc. increased its holdings in PBF Energy by 3.0% during the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company's stock worth $488,000 after purchasing an additional 460 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of PBF Energy by 1.7% during the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company's stock valued at $893,000 after buying an additional 485 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in PBF Energy by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company's stock worth $400,000 after buying an additional 543 shares in the last quarter. Highland Capital Management LLC raised its position in PBF Energy by 14.2% in 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 buying an additional 546 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in PBF Energy during the 2nd quarter valued at $26,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Performance

Shares of PBF stock traded down $0.58 during trading on Friday, reaching $30.22. 1,433,697 shares of the company's stock traded hands, compared to its average volume of 2,154,097. PBF Energy Inc. has a 1 year low of $27.94 and a 1 year high of $62.88. The company has a market capitalization of $3.48 billion, a P/E ratio of -11.67 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $31.44 and its 200 day moving average is $36.65.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $6.61 earnings per share. PBF Energy's revenue was down 21.9% on a year-over-year basis. Equities research analysts expect that PBF Energy Inc. will post -2.86 EPS for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.64%. PBF Energy's dividend payout ratio is currently -42.47%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler lowered shares of PBF Energy from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. StockNews.com lowered shares of PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, November 4th. TD Cowen reduced their target price on PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a report on Friday, November 1st. UBS Group decreased their price target on PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group cut their price objective on PBF Energy from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Friday, October 4th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $34.18.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 250,000 shares of PBF Energy stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average cost of $31.78 per share, for a total transaction of $7,945,000.00. Following the completion of the transaction, the insider now directly owns 22,952,398 shares in the company, valued at $729,427,208.44. This represents a 1.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have bought 4,238,100 shares of company stock valued at $132,147,631. 5.30% of the stock is currently owned by corporate insiders.

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.