Advisors Asset Management Inc. Purchases 4,447 Shares of PBF Energy Inc. (NYSE:PBF)

Advisors Asset Management Inc. grew its holdings in PBF Energy Inc. (NYSE:PBF) by 12.6% during the 3rd quarter, Holdings Channel reports. The firm owned 39,646 shares of the oil and gas company’s stock after purchasing an additional 4,447 shares during the period. Advisors Asset Management Inc.’s holdings in PBF Energy were worth $1,227,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI bought a new stake in shares of PBF Energy during the 2nd quarter valued at $26,000. CWM LLC increased its holdings in PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in PBF Energy in the third quarter valued at about $59,000. Blue Trust Inc. boosted its holdings in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of PBF Energy by 27.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 805,300 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $32.62 per share, for a total transaction of $26,268,886.00. Following the transaction, the insider now owns 20,634,898 shares of the company’s stock, valued at $673,110,372.76. This represents a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 4,592,400 shares of company stock valued at $145,300,797 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PBF has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets downgraded PBF Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $42.00 to $35.00 in a research note on Friday, October 4th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Mizuho cut their price objective on PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, The Goldman Sachs Group lowered their target price on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.18.

PBF Energy Trading Down 0.7 %

Shares of PBF Energy stock opened at $31.78 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The firm has a 50-day moving average of $31.56 and a 200-day moving average of $37.60. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88. The stock has a market cap of $3.66 billion, a PE ratio of -12.27 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the firm earned $6.61 EPS. The business’s revenue for the quarter was down 21.9% on a year-over-year basis. As a group, sell-side analysts forecast that PBF Energy Inc. will post -2.79 EPS for the current year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

PBF Energy Company 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.