PBF Energy Inc. $PBF Stock: Foster Victor Wealth Advisors LLC Boosts Position

Key Points

• Foster Victor Wealth Advisors increased its PBF Energy position by 824.7% in the third quarter, bringing its holdings to 55,484 shares valued at approximately $4.5 million. Institutional investors collectively own 96.29% of the company.
• PBF stock opened at $81.60, near its 52-week high of $92.46, with a market capitalization of $9.67 billion and a low price-to-earnings ratio of 7.22.
• PBF reported quarterly earnings of $6.22 per share, beating estimates of $4.15, while revenue rose 56.2% year over year to $11.68 billion. Analysts maintain a consensus “Hold” rating with an average price target of $65.55, below the current share price.

Foster Victor Wealth Advisors LLC lifted its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 824.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,484 shares of the oil and gas company's stock after acquiring an additional 49,484 shares during the period. Foster Victor Wealth Advisors LLC's holdings in PBF Energy were worth $4,509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PBF. Magnus Financial Group LLC bought a new stake in shares of PBF Energy during the third quarter valued at approximately $292,000. Quadrant Capital Group LLC purchased a new stake in PBF Energy in the third quarter worth $176,000. Range Financial Group LLC purchased a new stake in PBF Energy in the third quarter worth $1,752,000. Nisa Investment Advisors LLC raised its holdings in PBF Energy by 7.7% in the third quarter. Nisa Investment Advisors LLC now owns 31,635 shares of the oil and gas company's stock worth $2,435,000 after purchasing an additional 2,271 shares in the last quarter. Finally, Revisor Wealth Management LLC bought a new position in PBF Energy in the third quarter worth $418,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Price Performance

PBF stock opened at $81.60 on Thursday. The firm has a 50 day moving average price of $76.93 and a 200-day moving average price of $58.06. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $92.46. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 0.06 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analysts' expectations of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The business's revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.03) EPS. Equities research analysts forecast that PBF Energy Inc. will post 24.88 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.2750 per share. The ex-dividend date was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. PBF Energy's payout ratio is presently 9.73%.

Analysts Set New Price Targets

Several brokerages have commented on PBF. Evercore assumed coverage on PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of PBF Energy from $81.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, October 9th. Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Freedom Capital downgraded shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Finally, Citigroup increased their price target on shares of PBF Energy from $74.00 to $91.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $65.55.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, CEO Matthew Lucey sold 225,473 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company's stock, valued at approximately $35,655,850.32. The trade was a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Control Empresarial De Capital sold 490,000 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the sale, the insider directly owned 14,992,128 shares in the company, valued at $1,068,339,041.28. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,146,374 shares of company stock worth $304,686,537. 5.50% of the stock is owned by insiders.

PBF Energy Profile

PBF Energy Inc NYSE: PBF is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.