Wealth Enhancement Advisory Services LLC Invests $815,000 in PBF Energy Inc. $PBF

Key Points

• Wealth Enhancement Advisory Services LLC invested $815,000 in PBF Energy Inc., acquiring 37,630 shares in the second quarter, highlighting growing institutional interest in the company.
• PBF Energy insiders, including SVP Trecia M. Canty, sold significant amounts of stock recently, with Canty selling 50,000 shares at an average price of $34.13, indicating a 22.39% decrease in their position.
• A number of equities research analysts have recently adjusted their price targets for PBF Energy, with Citigroup raising their target from $16.00 to $29.00 while maintaining a "neutral" rating.

Wealth Enhancement Advisory Services LLC acquired a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 37,630 shares of the oil and gas company's stock, valued at approximately $815,000.

Other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in PBF Energy by 761.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 1,248 shares during the period. 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. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PBF Energy during the first quarter valued at about $35,000. Finally, Neo Ivy Capital Management purchased a new position in shares of PBF Energy during the first quarter valued at about $37,000. 96.29% of the stock is owned by institutional investors.

Insider Transactions at PBF Energy

In related news, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the sale, the senior vice president owned 173,332 shares in the company, valued at $5,915,821.16. This trade represents a 22.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president owned 207,984 shares of the company's stock, valued at $7,071,456. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley increased their price target on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Mizuho increased their price target on shares of PBF Energy from $23.00 to $26.00 and gave the stock an "underperform" rating in a research report on Monday, September 15th. Scotiabank reissued a "sector perform" rating and issued a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Finally, Tudor Pickering cut shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $26.38.

PBF Energy Price Performance

PBF Energy stock opened at $30.14 on Friday. The firm has a 50-day moving average price of $26.68 and a 200-day moving average price of $22.44. The firm has a market capitalization of $3.49 billion, a PE ratio of -3.51 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $34.29.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. The firm 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 was down 14.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.6%. PBF Energy's dividend payout ratio (DPR) is presently -12.81%.

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.

Want to see what other hedge funds are holding PBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Energy Inc. (NYSE:PBF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.