62,303 Shares in PBF Energy Inc. (NYSE:PBF) Acquired by Raymond James Financial Inc.

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

A number of other hedge funds have also recently bought and sold shares of PBF. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 1,056 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in PBF Energy during the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC increased its stake in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy in the fourth quarter worth $68,000. Finally, Spire Wealth Management boosted its position in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock worth $71,000 after purchasing an additional 585 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 150,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average cost of $28.70 per share, with a total value of $4,305,000.00. Following the acquisition, the insider now owns 29,505,998 shares in the company, valued at approximately $846,822,142.60. This trade represents a 0.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 481,000 shares of company stock valued at $10,380,180. 5.30% of the stock is owned by insiders.

PBF Energy Stock Down 2.2 %

Shares of PBF Energy stock traded down $0.42 on Wednesday, reaching $18.32. 3,018,618 shares of the company were exchanged, compared to its average volume of 2,458,207. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3.89 and a beta of 0.76. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a one year low of $13.62 and a one year high of $51.70. The company has a 50-day moving average of $18.02 and a 200 day moving average of $24.97.

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

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.275 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.00%. PBF Energy's payout ratio is -12.09%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. UBS Group decreased their price objective on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Scotiabank dropped 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 report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, TD Cowen cut their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, PBF Energy currently has an average rating of "Hold" and an average price target of $22.82.

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.