LSV Asset Management Increases Stake in PBF Energy Inc. (NYSE:PBF)

LSV Asset Management boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,274,904 shares of the oil and gas company’s stock after buying an additional 216,400 shares during the quarter. LSV Asset Management owned 1.04% of PBF Energy worth $56,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Summit Global Investments purchased a new stake in shares of PBF Energy during the 4th quarter worth approximately $1,268,000. Convergence Investment Partners LLC lifted its position in PBF Energy by 20.4% in the fourth quarter. Convergence Investment Partners LLC now owns 7,699 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 1,304 shares during the last quarter. Semanteon Capital Management LP acquired a new position in PBF Energy in the fourth quarter valued at $345,000. Bailard Inc. boosted its stake in PBF Energy by 10.3% in the fourth quarter. Bailard Inc. now owns 13,900 shares of the oil and gas company’s stock valued at $611,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of PBF Energy during the fourth quarter worth about $314,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Down 1.4 %

Shares of PBF Energy stock traded down $0.74 during trading hours on Friday, hitting $51.86. The company’s stock had a trading volume of 1,900,000 shares, compared to its average volume of 1,508,346. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $6.20 billion, a PE ratio of 3.59 and a beta of 1.73. The business has a fifty day moving average of $55.07 and a 200 day moving average of $48.96. PBF Energy Inc. has a 1-year low of $31.25 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF) last announced 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 net margin of 4.95% and a return on equity of 18.49%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.41 earnings per share. As a group, equities analysts forecast that PBF Energy Inc. will post 7.75 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PBF shares. Citigroup initiated coverage on PBF Energy in a report on Wednesday, January 24th. They issued a “neutral” rating for the company. TD Cowen lowered their price target on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Scotiabank increased their target price on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $58.00 in a research report on Friday, March 22nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $57.91.

Insiders Place Their Bets

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Connor Thomas L. O sold 40,000 shares of the company’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 transaction of $2,202,800.00. Following the sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $10,074,600 in the last three months. 5.30% of the stock is owned by insiders.

About PBF Energy

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.