PBF Energy Inc. (NYSE:PBF) Shares Bought by Dakota Wealth Management

Dakota Wealth Management grew its holdings in PBF Energy Inc. (NYSE:PBF) by 54.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,642 shares of the oil and gas company’s stock after acquiring an additional 12,221 shares during the quarter. Dakota Wealth Management’s holdings in PBF Energy were worth $920,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PBF. Leavell Investment Management Inc. boosted its stake in PBF Energy by 3.0% in 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 lifted its stake 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 worth $893,000 after buying an additional 485 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of 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 valued at $400,000 after buying an additional 543 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 573 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 worth $782,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PBF shares. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $42.00 to $35.00 in a report on Friday, October 4th. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and cut their price target for the stock from $27.00 to $20.00 in a report on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company cut shares of PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $39.00 to $34.00 in a report on Monday, December 9th. Finally, Scotiabank lowered their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average target price of $32.00.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 300,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $29.01 per share, for a total transaction of $8,703,000.00. Following the completion of the transaction, the insider now owns 25,640,498 shares of the company’s stock, valued at $743,830,846.98. The trade was a 1.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders bought 2,282,500 shares of company stock worth $67,731,360. 5.30% of the stock is owned by corporate insiders.

PBF Energy Price Performance

Shares of NYSE PBF opened at $29.90 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The firm has a fifty day moving average of $29.15 and a 200 day moving average of $32.44. The firm has a market cap of $3.44 billion, a PE ratio of -11.55 and a beta of 1.61. PBF Energy Inc. has a one year low of $24.21 and a one year high of $62.88.

PBF Energy (NYSE:PBF) last released its 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). The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.61 EPS. As a group, research analysts predict that PBF Energy Inc. will post -3.5 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.68%. PBF Energy’s payout ratio is currently -42.47%.

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.