70,140 Shares in PBF Energy Inc. (NYSE:PBF) Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc acquired a new position in PBF Energy, purchasing 70,140 shares valued at approximately $1.34 million during the first quarter.
• Analysts have set a price target range for PBF Energy, with Morgan Stanley raising it to $24.00, while Citigroup lifted theirs significantly from $16.00 to $29.00.
• PBF Energy announced a quarterly dividend of $0.275, equating to an annualized yield of 5.1%, which will be distributed on August 28th.

TD Asset Management Inc bought a new position in PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 70,140 shares of the oil and gas company's stock, valued at approximately $1,339,000. TD Asset Management Inc owned 0.06% of PBF Energy as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PBF. Fifth Third Bancorp increased its position in shares of PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 803 shares during the period. Allworth Financial LP increased its position in shares of PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,090 shares during the period. Neo Ivy Capital Management purchased a new position in shares of PBF Energy in the first quarter valued at about $37,000. Parallel Advisors LLC increased 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 valued at $46,000 after acquiring an additional 1,085 shares during the period. Finally, Sterling Capital Management LLC increased its position in shares of 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 valued at $84,000 after acquiring an additional 2,804 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 48,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the purchase, the insider owned 30,823,498 shares of the company's stock, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PBF shares. Scotiabank restated a "sector perform" rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Citigroup boosted their price target on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Piper Sandler reiterated an "underweight" rating and set a $22.00 price target (up previously from $21.00) on shares of PBF Energy in a research report on Monday. Finally, Mizuho boosted 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. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy has an average rating of "Hold" and an average price target of $25.17.

PBF Energy Stock Performance

PBF stock traded down $0.29 during midday trading on Friday, reaching $22.01. 1,393,842 shares of the company's stock traded hands, compared to its average volume of 3,153,019. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $37.99. The stock has a market cap of $2.55 billion, a P/E ratio of -2.56 and a beta of 0.92. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $22.96 and its 200 day moving average is $21.77.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the firm earned ($0.54) EPS. The company's revenue was down 14.4% on a year-over-year basis. As a group, analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Thursday, August 14th. PBF Energy's payout ratio is -12.81%.

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.