Raymond James Financial Services Advisors Inc. Buys 11,185 Shares of PBF Energy Inc. (NYSE:PBF)

Raymond James Financial Services Advisors Inc. lifted its stake in PBF Energy Inc. (NYSE:PBFGet Rating) by 42.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 37,671 shares of the oil and gas company’s stock after purchasing an additional 11,185 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PBF Energy were worth $1,325,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in PBF Energy by 12.2% in the first quarter. JPMorgan Chase & Co. now owns 396,209 shares of the oil and gas company’s stock worth $9,656,000 after purchasing an additional 43,143 shares in the last quarter. Raymond James & Associates bought a new position in shares of PBF Energy during the 1st quarter worth approximately $224,000. MetLife Investment Management LLC lifted its position in PBF Energy by 56.1% during the first quarter. MetLife Investment Management LLC now owns 51,879 shares of the oil and gas company’s stock valued at $1,264,000 after acquiring an additional 18,652 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in PBF Energy in the first quarter valued at approximately $578,000. Finally, Rhumbline Advisers grew its holdings in PBF Energy by 0.3% in the first quarter. Rhumbline Advisers now owns 308,096 shares of the oil and gas company’s stock worth $7,508,000 after purchasing an additional 784 shares during the last quarter. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PBF has been the subject of a number of recent analyst reports. Cowen raised their price objective on PBF Energy to $35.00 in a research report on Tuesday, November 1st. Wells Fargo & Company dropped their price target on PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, January 5th. The Goldman Sachs Group increased their price objective on shares of PBF Energy from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, October 28th. Mizuho reiterated a “buy” rating and issued a $50.00 target price (up from $43.00) on shares of PBF Energy in a research note on Tuesday, January 10th. Finally, StockNews.com downgraded shares of PBF Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.92.

PBF Energy Stock Performance

PBF opened at $40.76 on Friday. PBF Energy Inc. has a 1 year low of $14.75 and a 1 year high of $49.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.21 and a quick ratio of 0.72. The firm has a fifty day moving average price of $40.18 and a 200 day moving average price of $36.92. The stock has a market cap of $4.99 billion, a P/E ratio of 2.12 and a beta of 1.92.

PBF Energy (NYSE:PBFGet Rating) last released its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $1.93. PBF Energy had a return on equity of 73.75% and a net margin of 5.44%. The company had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $10.12 billion. Equities research analysts anticipate that PBF Energy Inc. will post 24.01 earnings per share for the current year.

PBF Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Monday, November 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.96%. PBF Energy’s dividend payout ratio is currently 4.16%.

Insider Buying and Selling

In other PBF Energy news, insider John C. Barone sold 32,500 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $45.97, for a total transaction of $1,494,025.00. Following the transaction, the insider now directly owns 14,662 shares of the company’s stock, valued at $674,012.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John C. Barone sold 32,500 shares of PBF Energy stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $45.97, for a total value of $1,494,025.00. Following the sale, the insider now directly owns 14,662 shares of the company’s stock, valued at $674,012.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul T. Davis sold 117,500 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $47.28, for a total value of $5,555,400.00. Following the completion of the transaction, the senior vice president now directly owns 44,126 shares of the company’s stock, valued at $2,086,277.28. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

About PBF Energy

(Get Rating)

PBF Energy Inc, together with 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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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