Summit Global Investments Invests $1.27 Million in PBF Energy Inc. (NYSE:PBF)

Summit Global Investments acquired a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,843 shares of the oil and gas company's stock, valued at approximately $1,268,000.

A number of other large investors have also made changes to their positions in PBF. Fifth Third Bancorp boosted its stake in PBF Energy by 39.8% in the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company's stock worth $43,000 after buying an additional 230 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of PBF Energy during the fourth quarter worth about $44,000. DekaBank Deutsche Girozentrale purchased a new position in PBF Energy in the 4th quarter worth approximately $73,000. Headlands Technologies LLC purchased a new position in shares of PBF Energy in the third quarter valued at $101,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of PBF Energy during the third quarter worth about $107,000. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Down 1.4 %

Shares of PBF Energy stock traded down $0.74 during trading on Friday, hitting $51.86. 1,900,000 shares of the stock traded hands, compared to its average volume of 1,508,346. The company has a fifty day moving average price of $55.07 and a two-hundred day moving average price of $48.96. PBF Energy Inc. has a twelve month low of $31.25 and a twelve month high of $62.88. The stock has a market cap of $6.20 billion, a P/E ratio of 3.59 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a return on equity of 18.49% and a net margin of 4.95%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. During the same period in the prior year, the firm earned $4.41 earnings per share. The business's revenue was down 15.7% on a year-over-year basis. Equities research analysts predict that PBF Energy Inc. will post 7.75 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a $0.25 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. PBF Energy's dividend payout ratio is currently 6.92%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank boosted their price objective on PBF Energy from $39.00 to $56.00 and gave the company a "sector perform" rating in a report on Thursday, April 11th. Bank of America upgraded PBF Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Citigroup initiated coverage on PBF Energy in a report on Wednesday, January 24th. They set a "neutral" rating on the stock. Wells Fargo & Company lifted their target price on shares of PBF Energy from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, April 1st. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $57.91.

Insider Transactions at PBF Energy

In other news, SVP Paul T. Davis sold 100,000 shares of the business's stock in a transaction 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 in the company, valued at $6,255,829.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Connor Thomas L. O sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,958,084.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul T. Davis sold 100,000 shares of the firm's stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,000 shares of company stock worth $10,074,600. 5.30% of the stock is owned by corporate insiders.

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.