Pekin Hardy Strauss Inc. Acquires New Position in PBF Energy Inc. (NYSE:PBF)

Pekin Hardy Strauss Inc. bought a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the oil and gas company's stock, valued at approximately $191,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after acquiring an additional 260,464 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock valued at $56,191,000 after acquiring an additional 1,272,254 shares during the last quarter. American Century Companies Inc. boosted its stake in PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock valued at $49,532,000 after acquiring an additional 187,351 shares during the last quarter. Two Sigma Investments LP boosted its stake in PBF Energy by 12.6% during the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock valued at $43,690,000 after acquiring an additional 184,194 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in PBF Energy by 5.5% during the 4th 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 acquiring an additional 78,045 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on PBF shares. Piper Sandler reduced their price objective on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Scotiabank increased their price objective on shares of PBF Energy from $16.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday. Mizuho raised their price target on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley reduced their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of "Hold" and an average target price of $24.00.

PBF Energy Price Performance

PBF Energy stock traded up $0.80 during trading hours on Friday, hitting $28.70. 4,328,045 shares of the company traded hands, compared to its average volume of 2,736,194. The firm has a market cap of $3.32 billion, a P/E ratio of -3.15 and a beta of 0.84. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The firm's 50-day simple moving average is $21.55 and its two-hundred day simple moving average is $22.24. PBF Energy Inc. has a 1-year low of $13.62 and a 1-year high of $42.64.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the firm posted $0.85 EPS. The business's revenue for the quarter was down 18.3% on a year-over-year basis. As a group, analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's dividend payout ratio (DPR) is currently -12.09%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 48,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.30% of the stock is currently owned by company 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.