AQR Capital Management LLC Purchases 140,804 Shares of PBF Energy Inc. (NYSE:PBF)

AQR Capital Management LLC grew its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 654,093 shares of the oil and gas company's stock after purchasing an additional 140,804 shares during the period. AQR Capital Management LLC owned approximately 0.57% of PBF Energy worth $17,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PBF. T. Rowe Price Investment Management Inc. grew its position in PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after buying an additional 1,272,254 shares during the last quarter. American Century Companies Inc. increased its stake in PBF Energy by 11.2% in the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock worth $49,532,000 after purchasing an additional 187,351 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PBF Energy by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company's stock valued at $39,634,000 after buying an additional 78,045 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock worth $39,628,000 after buying an additional 562,287 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of PBF Energy by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,378,956 shares of the oil and gas company's stock valued at $36,611,000 after acquiring an additional 50,541 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PBF shares. UBS Group cut their target price on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Piper Sandler reduced their price objective on PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 2nd. Scotiabank lowered their target price on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Mizuho reduced their price target on shares of PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. Finally, TD Cowen lowered their price target on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.82.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 16,000 shares of PBF Energy stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $13.88 per share, for a total transaction of $222,080.00. Following the transaction, the insider now directly owns 30,737,998 shares of the company's stock, valued at approximately $426,643,412.24. This trade represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders purchased 481,000 shares of company stock valued at $10,380,180. Insiders own 5.30% of the company's stock.

PBF Energy Stock Performance

PBF stock traded down $0.42 on Wednesday, reaching $18.32. 3,018,618 shares of the company were exchanged, compared to its average volume of 2,458,207. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy Inc. has a 12 month low of $13.62 and a 12 month high of $51.70. The stock's fifty day moving average price is $18.08 and its 200 day moving average price is $25.02. The firm has a market capitalization of $2.11 billion, a PE ratio of -3.89 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The business's revenue was down 18.3% compared to the same quarter last year. On average, research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy's payout ratio is presently -12.09%.

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.