Raymond James Financial Inc. Acquires Shares of 62,303 PBF Energy Inc. (NYSE:PBF)

Raymond James Financial Inc. acquired a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,303 shares of the oil and gas company's stock, valued at approximately $1,654,000. Raymond James Financial Inc. owned 0.05% of PBF Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PBF. Xponance Inc. increased its holdings in shares of PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock valued at $375,000 after purchasing an additional 364 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of PBF Energy by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock worth $1,084,000 after acquiring an additional 459 shares during the period. Spire Wealth Management boosted its position in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after acquiring an additional 585 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 614 shares during the last quarter. Finally, LPL Financial LLC increased its position in PBF Energy by 3.2% during the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock worth $632,000 after purchasing an additional 748 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PBF. UBS Group dropped their price target on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Mizuho reduced their target price on PBF Energy from $28.00 to $22.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Piper Sandler decreased their price target on PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday. TD Cowen cut their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank decreased their target price on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, PBF Energy currently has an average rating of "Hold" and a consensus target price of $22.82.

PBF Energy Stock Up 5.2 %

Shares of PBF Energy stock traded up $0.87 during trading hours on Friday, reaching $17.53. 3,049,811 shares of the company were exchanged, compared to its average volume of 2,432,870. The firm has a market cap of $2.02 billion, a PE ratio of -3.72 and a beta of 0.76. The stock's fifty day moving average is $18.20 and its 200 day moving average is $25.23. PBF Energy Inc. has a 1 year low of $13.62 and a 1 year high of $52.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.50) by $0.41. The business had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business's quarterly revenue was down 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.27%. PBF Energy's payout ratio is -12.09%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 155,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $20.20 per share, with a total value of $3,131,000.00. Following the transaction, the insider now owns 30,249,998 shares of the company's stock, valued at approximately $611,049,959.60. The trade was a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders bought 521,000 shares of company stock valued at $11,478,980. Insiders own 5.30% of the company's stock.

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.