Ritholtz Wealth Management Sells 3,694 Shares of PBF Energy Inc. (NYSE:PBF)

Ritholtz Wealth Management lessened its stake in PBF Energy Inc. (NYSE:PBFFree Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,584 shares of the oil and gas company’s stock after selling 3,694 shares during the quarter. Ritholtz Wealth Management’s holdings in PBF Energy were worth $1,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBF. JPMorgan Chase & Co. increased 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 valued at $9,656,000 after purchasing an additional 43,143 shares during the last quarter. Raymond James & Associates bought a new stake in PBF Energy in the first quarter valued at about $224,000. MetLife Investment Management LLC increased its holdings in PBF Energy by 56.1% in 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 purchasing an additional 18,652 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of PBF Energy in the first quarter worth about $578,000. Finally, Rhumbline Advisers increased its holdings in shares of 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 acquiring an additional 784 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 486,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was bought at an average cost of $42.48 per share, with a total value of $20,645,280.00. Following the completion of the transaction, the insider now directly owns 13,062,998 shares in the company, valued at approximately $554,916,155.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PBF Energy news, insider Control Empresarial De Capital acquired 486,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was bought at an average cost of $42.48 per share, with a total value of $20,645,280.00. Following the completion of the transaction, the insider now directly owns 13,062,998 shares in the company, valued at approximately $554,916,155.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at $8,829,813.66. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,268,200 shares of company stock valued at $54,251,872 and sold 180,000 shares valued at $10,074,600. Insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PBF. Wells Fargo & Company increased their price target on PBF Energy from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Piper Sandler restated a “neutral” rating and issued a $50.00 price target (down from $65.00) on shares of PBF Energy in a report on Monday, January 8th. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $74.00 in a report on Friday, March 15th. TD Cowen increased their price target on PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Finally, UBS Group reduced their price objective on PBF Energy from $53.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.50.

Get Our Latest Analysis on PBF Energy

PBF Energy Stock Performance

Shares of NYSE PBF opened at $57.57 on Friday. The stock has a 50 day moving average price of $50.87 and a 200 day moving average price of $47.82. PBF Energy Inc. has a 52 week low of $31.25 and a 52 week high of $58.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. The stock has a market capitalization of $6.88 billion, a PE ratio of 3.50 and a beta of 1.71.

PBF Energy (NYSE:PBFGet Free Report) last issued its quarterly 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). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.65 billion. During the same period last year, the company posted $4.41 earnings per share. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts predict that PBF Energy Inc. will post 6.13 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.00 annualized dividend and a yield of 1.74%. PBF Energy’s dividend payout ratio (DPR) 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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