PBF Energy Inc. (NYSE:PBF) Shares Acquired by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors LLC increased its stake in PBF Energy by 81.8% during the first quarter, owning 40,000 shares valued at $764,000.
• Analysts have given PBF Energy a mix of ratings with price targets ranging from $20.00 to $26.00, while the stock currently holds an average rating of "Hold" and a target of $25.08.
• PBF Energy announced a quarterly dividend of $0.275 per share, equating to an annualized yield of 5.1%, with the payment set for August 28th.

IPG Investment Advisors LLC boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 81.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the oil and gas company's stock after acquiring an additional 18,000 shares during the period. IPG Investment Advisors LLC's holdings in PBF Energy were worth $764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in shares of PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 803 shares during the last quarter. Allworth Financial LP lifted its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,090 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of PBF Energy during the 1st quarter valued at $37,000. Parallel Advisors LLC boosted its position in shares of PBF Energy by 80.4% in the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock worth $46,000 after buying an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in PBF Energy by 54.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company's stock valued at $51,000 after acquiring an additional 936 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PBF shares. Morgan Stanley upped their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Piper Sandler lifted their target price on PBF Energy from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Tuesday, July 22nd. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and raised their price target for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Mizuho upped their price objective on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $25.00 target price (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $25.08.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 48,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the transaction, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.70% of the company's stock.

PBF Energy Stock Performance

PBF stock opened at $21.69 on Monday. The company has a 50-day simple moving average of $22.71 and a 200 day simple moving average of $21.86. The company has a market capitalization of $2.51 billion, a P/E ratio of -2.53 and a beta of 0.92. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $38.44.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.54) EPS. Sell-side analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is presently -12.81%.

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.

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