B. Riley Wealth Advisors Inc. Increases Stock Position in PBF Energy Inc. (NYSE:PBF)

B. Riley Wealth Advisors Inc. raised its position in PBF Energy Inc. (NYSE:PBF) by 35.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,289 shares of the oil and gas company’s stock after acquiring an additional 14,892 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in PBF Energy were worth $1,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBF. Tidal Investments LLC purchased a new stake in PBF Energy in the 3rd quarter worth approximately $1,642,000. Neo Ivy Capital Management bought a new position in shares of PBF Energy during the third quarter valued at approximately $2,404,000. Vestcor Inc raised its holdings in shares of PBF Energy by 1,513.2% during the third quarter. Vestcor Inc now owns 14,712 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 13,800 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in PBF Energy by 108.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company’s stock worth $1,359,000 after acquiring an additional 22,852 shares during the period. Finally, XTX Topco Ltd bought a new stake in PBF Energy in the third quarter valued at $1,415,000. 96.29% of the stock is owned by institutional investors.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 265,000 shares of the stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $31.87 per share, with a total value of $8,445,550.00. Following the completion of the acquisition, the insider now owns 23,217,398 shares in the company, valued at $739,938,474.26. The trade was a 1.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 3,568,100 shares of company stock worth $111,183,331 over the last quarter. Company insiders own 5.30% of the company’s stock.

PBF Energy Stock Down 4.9 %

PBF Energy stock opened at $27.83 on Tuesday. PBF Energy Inc. has a 12 month low of $27.68 and a 12 month high of $62.88. The stock has a fifty day simple moving average of $31.14 and a two-hundred day simple moving average of $35.71. 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 has a market cap of $3.20 billion, a price-to-earnings ratio of -10.75 and a beta of 1.57.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.61 earnings per share. Equities analysts predict that PBF Energy Inc. will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.95%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s payout ratio is presently -42.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Bank of America assumed coverage on shares of PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price for the company. Morgan Stanley cut their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Six analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.09.

PBF Energy Company 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.