Fortitude Family Office LLC Buys New Holdings in PBF Energy Inc. (NYSE:PBF)

Fortitude Family Office LLC acquired a new position in shares of PBF Energy Inc. (NYSE:PBFFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 995 shares of the oil and gas company’s stock, valued at approximately $44,000.

A number of other institutional investors have also modified their holdings of PBF. Moneta Group Investment Advisors LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $412,454,000. Norges Bank acquired a new position in shares of PBF Energy in the 4th quarter valued at $43,996,000. Vanguard Group Inc. increased its holdings in shares of PBF Energy by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company’s stock valued at $298,916,000 after acquiring an additional 1,077,287 shares during the period. Acadian Asset Management LLC increased its holdings in shares of PBF Energy by 1,112.3% in the 3rd quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock valued at $51,718,000 after acquiring an additional 886,617 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of PBF Energy by 253.1% in the 1st quarter. AQR Capital Management LLC now owns 1,156,262 shares of the oil and gas company’s stock valued at $49,569,000 after acquiring an additional 828,787 shares during the period. 89.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 770,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were acquired at an average cost of $42.95 per share, for a total transaction of $33,071,500.00. Following the transaction, the insider now directly owns 13,832,998 shares of the company’s stock, valued at $594,127,264.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $55.07, for a total value of $2,202,800.00. Following the completion of the transaction, the senior vice president now owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Control Empresarial De Capital bought 770,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was purchased at an average cost of $42.95 per share, with a total value of $33,071,500.00. Following the purchase, the insider now directly owns 13,832,998 shares in the company, valued at approximately $594,127,264.10. The disclosure for this purchase can be found here. Insiders have acquired 1,268,200 shares of company stock worth $54,251,872 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

PBF has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. StockNews.com cut shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, December 18th. UBS Group lowered their price objective on shares of PBF Energy from $53.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, December 7th. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Finally, Mizuho lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $58.00 in a research report on Friday. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.50.

View Our Latest Stock Report on PBF

PBF Energy Price Performance

Shares of NYSE PBF opened at $56.30 on Friday. The firm has a market capitalization of $6.73 billion, a P/E ratio of 3.42 and a beta of 1.71. PBF Energy Inc. has a one year low of $31.25 and a one year high of $58.65. The company’s fifty day moving average is $49.43 and its two-hundred day moving average is $47.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56.

PBF Energy (NYSE:PBFGet Free Report) last issued its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. PBF Energy’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.41 earnings per share. Analysts forecast that PBF Energy Inc. will post 6.01 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were given a $0.25 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. PBF Energy’s dividend payout ratio is presently 6.08%.

About PBF Energy

(Free Report)

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.

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

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