PBF Energy Inc. (NYSE:PBF) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its position in PBF Energy Inc. (NYSE:PBFFree Report) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,136 shares of the oil and gas company’s stock after purchasing an additional 17,197 shares during the period. Wellington Management Group LLP owned approximately 0.28% of PBF Energy worth $18,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of PBF Energy by 39.8% in the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 230 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of PBF Energy by 473.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,210 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 999 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $87,000. Headlands Technologies LLC acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $101,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $107,000. 89.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PBF. Mizuho lowered 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 note on Friday. Citigroup began coverage on PBF Energy in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $74.00 in a report on Friday, March 15th. Piper Sandler reiterated a “neutral” rating and set a $50.00 target price (down from $65.00) on shares of PBF Energy in a report on Monday, January 8th. Finally, StockNews.com downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, PBF Energy has a consensus rating of “Hold” and an average price target of $55.50.

View Our Latest Research Report on PBF Energy

PBF Energy Price Performance

PBF stock opened at $56.30 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. PBF Energy Inc. has a 52-week low of $31.25 and a 52-week high of $58.65. The stock’s 50 day moving average is $49.43 and its two-hundred day moving average is $47.65. The company has a market capitalization of $6.73 billion, a PE ratio of 3.42 and a beta of 1.71.

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

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. PBF Energy’s dividend payout ratio (DPR) is 6.08%.

Insider Activity

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

PBF Energy Company Profile

(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.

Further Reading

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

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