First Eagle Investment Management LLC Acquires 64,000 Shares of PBF Energy Inc. (NYSE:PBF)

First Eagle Investment Management LLC lifted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 16.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 449,017 shares of the oil and gas company’s stock after purchasing an additional 64,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in PBF Energy were worth $11,921,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the period. Quarry LP bought a new position in shares of PBF Energy during the 3rd quarter worth about $48,000. Golden State Wealth Management LLC bought a new position in shares of PBF Energy during the 4th quarter worth about $61,000. EverSource Wealth Advisors LLC lifted its holdings in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of PBF Energy during the 4th quarter worth about $68,000. 96.29% of the stock is owned by institutional investors.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 70,000 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $25.56 per share, for a total transaction of $1,789,200.00. Following the transaction, the insider now directly owns 28,884,998 shares in the company, valued at $738,300,548.88. This represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired a total of 1,062,500 shares of company stock worth $28,442,290 in the last quarter. 5.30% of the stock is owned by company insiders.

PBF Energy Trading Up 5.2 %

PBF opened at $20.70 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.39 billion, a PE ratio of -4.39 and a beta of 1.62. PBF Energy Inc. has a 1-year low of $18.97 and a 1-year high of $62.88. The firm has a 50-day moving average price of $25.93 and a two-hundred day moving average price of $29.10.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. As a group, equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is -23.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday. UBS Group cut their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. TD Cowen cut their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday. Finally, Morgan Stanley cut their price target on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.36.

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.