Cetera Investment Advisers Boosts Stock Position in PBF Energy Inc. (NYSE:PBF)

Cetera Investment Advisers increased its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 60.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,281 shares of the oil and gas company's stock after purchasing an additional 14,098 shares during the period. Cetera Investment Advisers' holdings in PBF Energy were worth $990,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of PBF Energy during the 4th quarter valued at $61,000. EverSource Wealth Advisors LLC lifted 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 valued at $65,000 after buying an additional 614 shares during the period. Spire Wealth Management boosted its stake in PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after buying an additional 585 shares in the last quarter. Avior Wealth Management LLC grew its holdings in PBF Energy by 58.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company's stock worth $80,000 after acquiring an additional 1,100 shares during the period. Finally, Sterling Capital Management LLC raised its position in PBF Energy by 783.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company's stock worth $84,000 after acquiring an additional 2,804 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

PBF Energy Price Performance

PBF traded up $0.35 on Thursday, hitting $19.41. 2,890,440 shares of the stock were exchanged, compared to its average volume of 2,538,217. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -4.12 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 Inc. has a 12 month low of $13.62 and a 12 month high of $48.20. The business has a 50-day moving average of $18.04 and a two-hundred day moving average of $23.91.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $6.27 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business's revenue for the quarter was down 18.3% compared to the same quarter last year. Sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy's dividend payout ratio (DPR) is presently -12.09%.

Wall Street Analysts Forecast Growth

PBF has been the subject of several analyst reports. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. TD Cowen decreased their target price on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Mizuho upped their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler lowered 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 report on Friday, May 2nd. Seven research 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, the stock presently has an average rating of "Hold" and a consensus price target of $22.91.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 16,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $13.88 per share, for a total transaction of $222,080.00. Following the purchase, the insider now owns 30,737,998 shares of the company's stock, valued at $426,643,412.24. This trade represents a 0.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought 331,000 shares of company stock valued at $6,075,180 over the last quarter. Insiders own 6.70% of the company's stock.

PBF Energy 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.