Norden Group LLC Invests $212,000 in PBF Energy Inc. (NYSE:PBF)

Norden Group LLC acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,674 shares of the oil and gas company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of PBF Energy during the 4th quarter valued at $54,832,000. LSV Asset Management boosted its position in PBF Energy by 20.4% in the fourth quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after purchasing an additional 216,400 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of PBF Energy by 763.4% during the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of PBF Energy by 205.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 231,800 shares of the oil and gas company’s stock valued at $10,190,000 after purchasing an additional 156,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PBF Energy by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock worth $324,487,000 after purchasing an additional 120,414 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. TD Cowen reduced their price objective on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group decreased their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. JPMorgan Chase & Co. cut their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Mizuho decreased their price objective on PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Nine 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, the stock presently has a consensus rating of “Hold” and an average target price of $53.91.

PBF Energy Stock Down 0.1 %

NYSE PBF opened at $40.72 on Monday. PBF Energy Inc. has a 12 month low of $39.46 and a 12 month high of $62.88. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.83 billion, a PE ratio of 2.82 and a beta of 1.60. The stock’s 50 day moving average is $46.22 and its 200 day moving average is $49.43.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The firm had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Research analysts predict that PBF Energy Inc. will post 4.59 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s payout ratio is currently 6.92%.

Insider Activity

In other news, insider Control Empresarial De Capital bought 200,000 shares of PBF Energy stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average cost of $45.37 per share, with a total value of $9,074,000.00. Following the completion of the acquisition, the insider now owns 14,824,198 shares of the company’s stock, valued at approximately $672,573,863.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 2,091,100 shares of company stock worth $93,004,617 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Profile

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.