Nuveen Asset Management LLC Buys 276,672 Shares of PBF Energy Inc. (NYSE:PBF)

Nuveen Asset Management LLC grew its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 94.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 568,901 shares of the oil and gas company's stock after purchasing an additional 276,672 shares during the period. Nuveen Asset Management LLC owned about 0.49% of PBF Energy worth $15,104,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at about $61,000. EverSource Wealth Advisors LLC grew its holdings in shares of PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 614 shares during the last quarter. Spire Wealth Management increased its stake in shares of PBF Energy by 28.2% in the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock worth $71,000 after buying an additional 585 shares during the period. Avior Wealth Management LLC raised its holdings in PBF Energy by 58.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company's stock valued at $80,000 after buying an additional 1,100 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in PBF Energy by 783.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company's stock valued at $84,000 after buying an additional 2,804 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 15,000 shares of PBF Energy stock in a transaction dated Tuesday, April 15th. The stock was purchased at an average cost of $14.44 per share, with a total value of $216,600.00. Following the completion of the purchase, the insider now directly owns 30,774,998 shares in the company, valued at approximately $444,390,971.12. This trade represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have acquired 331,000 shares of company stock worth $6,075,180. Company insiders own 6.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PBF shares. Scotiabank dropped their target price on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Piper Sandler dropped their price objective on PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, May 2nd. TD Cowen cut their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.91.

PBF Energy Stock Performance

NYSE PBF traded down $0.09 during trading hours on Friday, hitting $19.33. The company's stock had a trading volume of 310,719 shares, compared to its average volume of 2,529,656. The company's 50 day simple moving average is $18.04 and its two-hundred day simple moving average is $23.91. PBF Energy Inc. has a 12 month low of $13.62 and a 12 month high of $48.20. The company has a market cap of $2.24 billion, a P/E ratio of -4.10 and a beta of 0.76. 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 (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the company posted $0.85 EPS. The business's quarterly revenue was down 18.3% compared to the same quarter last year. As a group, sell-side analysts expect 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 was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a yield of 5.69%. PBF Energy's dividend payout ratio is currently -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.