238,091 Shares in PBF Energy Inc. (NYSE:PBF) Acquired by Thomist Capital Management LP

Thomist Capital Management LP purchased a new stake in PBF Energy Inc. (NYSE:PBF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 238,091 shares of the oil and gas company’s stock, valued at approximately $9,866,000. PBF Energy makes up about 6.2% of Thomist Capital Management LP’s holdings, making the stock its 6th biggest position. Thomist Capital Management LP owned about 0.19% of PBF Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PBF. Parallel Advisors LLC lifted its position in shares of PBF Energy by 51.4% in the second quarter. Parallel Advisors LLC now owns 695 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 236 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in PBF Energy by 6.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,136 shares of the oil and gas company’s stock valued at $250,000 after acquiring an additional 352 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of PBF Energy by 4.3% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 9,920 shares of the oil and gas company’s stock worth $430,000 after buying an additional 405 shares during the last quarter. Pathstone Family Office LLC lifted its position in PBF Energy by 3.0% during the fourth quarter. Pathstone Family Office LLC now owns 14,288 shares of the oil and gas company’s stock worth $583,000 after acquiring an additional 413 shares during the last quarter. Finally, Silver Oak Securities Incorporated grew its position in shares of PBF Energy by 9.6% in the second quarter. Silver Oak Securities Incorporated now owns 5,400 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

Insider Buying and Selling

In other PBF Energy news, SVP Connor Thomas L. O sold 50,000 shares of PBF Energy stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $55.17, for a total transaction of $2,758,500.00. Following the transaction, the senior vice president now directly owns 117,503 shares of the company’s stock, valued at approximately $6,482,640.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PBF shares. Wells Fargo & Company increased their price objective on PBF Energy from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. StockNews.com cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Piper Sandler upped their price target on shares of PBF Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 9th. The Goldman Sachs Group lifted their price objective on shares of PBF Energy from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, September 1st. Finally, Bank of America upped their target price on PBF Energy from $56.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, September 18th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.67.

PBF Energy Trading Up 0.4 %

NYSE:PBF traded up $0.19 during mid-day trading on Monday, hitting $45.20. 548,917 shares of the company’s stock were exchanged, compared to its average volume of 2,570,884. PBF Energy Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $56.38. The company has a current ratio of 1.58, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $5.52 billion, a P/E ratio of 2.07 and a beta of 1.84. The company has a 50 day simple moving average of $48.81 and a 200-day simple moving average of $44.56.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.20. PBF Energy’s payout ratio is 4.61%.

PBF Energy Company Profile

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 from crude oil.