Mackenzie Financial Corp Buys 103,310 Shares of PBF Energy Inc. (NYSE:PBF)

Mackenzie Financial Corp boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 26.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,344 shares of the oil and gas company's stock after buying an additional 103,310 shares during the period. Mackenzie Financial Corp owned approximately 0.40% of PBF Energy worth $21,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in PBF Energy by 2.4% during the 1st quarter. BlackRock Inc. now owns 13,857,287 shares of the oil and gas company's stock valued at $600,852,000 after purchasing an additional 321,654 shares during the last quarter. Vanguard Group Inc. grew its stake in PBF Energy by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 13,175,781 shares of the oil and gas company's stock valued at $463,260,000 after purchasing an additional 716,698 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in PBF Energy during the 4th quarter valued at about $412,454,000. Millennium Management LLC grew its stake in PBF Energy by 12.1% during the 4th quarter. Millennium Management LLC now owns 2,626,237 shares of the oil and gas company's stock valued at $107,098,000 after purchasing an additional 283,113 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in PBF Energy by 14.5% during the 1st quarter. Geode Capital Management LLC now owns 2,527,383 shares of the oil and gas company's stock valued at $109,587,000 after purchasing an additional 320,148 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 12,200 shares of PBF Energy stock in a transaction on Wednesday, January 24th. The stock was acquired at an average price of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now directly owns 14,345,198 shares of the company's stock, valued at $629,180,384.28. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Control Empresarial De Capital purchased 12,200 shares of the business's stock in a transaction that occurred on Wednesday, January 24th. The stock was purchased at an average price of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now owns 14,345,198 shares in the company, valued at $629,180,384.28. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now directly owns 110,978 shares of the company's stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock valued at $10,074,600 over the last quarter. 5.30% of the stock is currently owned by insiders.

PBF Energy Price Performance

PBF stock traded up $0.42 during mid-day trading on Friday, reaching $55.91. 2,340,636 shares of the company's stock were exchanged, compared to its average volume of 2,219,145. The stock's 50 day moving average is $53.81 and its 200 day moving average is $48.34. PBF Energy Inc. has a 12-month low of $31.25 and a 12-month high of $62.88. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 3.37 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.65 billion. During the same period in the previous year, the company earned $4.41 EPS. PBF Energy's revenue was down 15.7% compared to the same quarter last year. On average, research analysts expect that PBF Energy Inc. will post 5.88 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. PBF Energy's payout ratio is currently 6.08%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PBF shares. Scotiabank boosted their price target on PBF Energy from $39.00 to $56.00 and gave the company a "sector perform" rating in a research note on Thursday, April 11th. Mizuho downgraded PBF Energy from a "buy" rating to a "neutral" rating and upped their target price for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. Piper Sandler upped their target price on PBF Energy from $50.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Citigroup assumed coverage on PBF Energy in a research note on Wednesday, January 24th. They issued a "neutral" rating on the stock. Finally, Wells Fargo & Company upped their target price on PBF Energy from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $57.55.

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.