PBF Energy Inc. (NYSE:PBF) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in PBF Energy Inc. (NYSE:PBFGet Rating) by 120.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,774 shares of the oil and gas company’s stock after purchasing an additional 5,888 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PBF Energy were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PBF. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in PBF Energy in the first quarter worth about $48,000. Point72 Hong Kong Ltd acquired a new position in PBF Energy in the first quarter valued at approximately $76,000. Quadrant Capital Group LLC boosted its stake in PBF Energy by 17.6% in the second quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company’s stock valued at $84,000 after acquiring an additional 433 shares during the period. Ellevest Inc. boosted its stake in PBF Energy by 724.0% in the second quarter. Ellevest Inc. now owns 3,436 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 3,019 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in PBF Energy in the second quarter valued at approximately $102,000. 90.69% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Price Performance

NYSE PBF opened at $45.08 on Wednesday. The stock has a market capitalization of $5.52 billion, a P/E ratio of 2.34 and a beta of 1.92. PBF Energy Inc. has a 1 year low of $15.41 and a 1 year high of $50.86. The business’s fifty day moving average is $39.99 and its two-hundred day moving average is $37.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.72 and a current ratio of 1.21.

PBF Energy (NYSE:PBFGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $1.93. The company had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $10.12 billion. PBF Energy had a return on equity of 73.75% and a net margin of 5.44%. On average, research analysts forecast that PBF Energy Inc. will post 23.56 earnings per share for the current fiscal year.

PBF Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, November 10th. PBF Energy’s payout ratio is 4.16%.

Insiders Place Their Bets

In other PBF Energy news, SVP Paul T. Davis sold 117,500 shares of PBF Energy stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the transaction, the senior vice president now directly owns 44,126 shares in the company, valued at approximately $2,086,277.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other PBF Energy news, SVP Paul T. Davis sold 117,500 shares of PBF Energy stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the transaction, the senior vice president now directly owns 44,126 shares in the company, valued at approximately $2,086,277.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,494,025.00. Following the transaction, the insider now owns 14,662 shares in the company, valued at $674,012.14. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PBF. Mizuho restated 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. Piper Sandler lifted their target price on PBF Energy from $53.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, November 9th. StockNews.com cut PBF Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 15th. Wells Fargo & Company cut their price target on PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Finally, Cowen lifted their price target on PBF Energy to $35.00 in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and an average target price of $41.69.

PBF Energy Company Profile

(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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