Wells Fargo & Company MN Increases Position in PBF Energy Inc. (NYSE:PBF)

Wells Fargo & Company MN raised its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,288 shares of the oil and gas company's stock after purchasing an additional 18,097 shares during the period. Wells Fargo & Company MN owned 0.10% of PBF Energy worth $2,955,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PBF. Fortitude Family Office LLC raised its stake in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock valued at $31,000 after buying an additional 1,056 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PBF Energy in the 4th quarter worth about $61,000. EverSource Wealth Advisors LLC boosted its stake in PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 614 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in PBF Energy during the 4th quarter valued at about $68,000. Finally, Spire Wealth Management increased its stake in PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after purchasing an additional 585 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Price Performance

NYSE PBF opened at $15.92 on Thursday. The business's fifty day moving average is $19.13 and its 200 day moving average is $26.04. PBF Energy Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $58.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company has a market capitalization of $1.84 billion, a PE ratio of -3.38 and a beta of 1.15.

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) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). The company had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Sell-side analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.91%. PBF Energy's dividend payout ratio (DPR) is presently -23.35%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $13.98 per share, with a total value of $209,700.00. Following the purchase, the insider now owns 30,757,998 shares of the company's stock, valued at $429,996,812.04. This trade represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 627,000 shares of company stock valued at $14,602,580 over the last three months. Corporate insiders own 6.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PBF shares. Scotiabank reduced their price target on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Piper Sandler dropped their price objective on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, March 7th. Morgan Stanley decreased their target price on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. Finally, The Goldman Sachs Group dropped their price target on shares of 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $24.18.

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.

Want to see what other hedge funds are holding PBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Energy Inc. (NYSE:PBF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.