PBF Energy Inc. (NYSE:PBF) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 336,300 shares of the oil and gas company's stock after acquiring an additional 17,400 shares during the quarter. Canada Pension Plan Investment Board owned about 0.29% of PBF Energy worth $8,929,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Guggenheim Capital LLC increased its stake in PBF Energy by 43.1% in the 4th quarter. Guggenheim Capital LLC now owns 20,948 shares of the oil and gas company's stock worth $556,000 after acquiring an additional 6,309 shares during the last quarter. Barclays PLC increased its position in PBF Energy by 27.1% in the fourth quarter. Barclays PLC now owns 275,338 shares of the oil and gas company's stock worth $7,309,000 after purchasing an additional 58,691 shares during the last quarter. Sterling Capital Management LLC lifted its position in PBF Energy by 783.2% during 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 purchasing an additional 2,804 shares during the last quarter. Covestor Ltd grew its stake in shares of PBF Energy by 36.3% in the 4th quarter. Covestor Ltd now owns 3,788 shares of the oil and gas company's stock worth $101,000 after buying an additional 1,008 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of PBF Energy in the 4th quarter worth about $1,654,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 15,000 shares of the stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $13.98 per share, for a total transaction of $209,700.00. Following the completion of the purchase, the insider now directly owns 30,757,998 shares in the company, valued at approximately $429,996,812.04. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 627,000 shares of company stock valued at $14,602,580 over the last quarter. 6.70% of the stock is owned by corporate insiders.

PBF Energy Stock Up 1.4 %

Shares of NYSE:PBF traded up $0.22 during trading hours on Friday, hitting $16.28. The company's stock had a trading volume of 1,810,322 shares, compared to its average volume of 2,402,725. The firm's fifty day moving average price is $18.83 and its 200 day moving average price is $25.71. PBF Energy Inc. has a 52 week low of $13.62 and a 52 week high of $58.17. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -3.46 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, research analysts expect 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 Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio (DPR) is currently -23.35%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PBF. Morgan Stanley reduced their price objective on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday. Piper Sandler reduced their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. UBS Group dropped their price objective on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. TD Cowen reduced their target price on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company lowered their target price on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $23.45.

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.