Dakota Wealth Management Invests $694,000 in PBF Energy Inc. (NYSE:PBF)

Dakota Wealth Management acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,421 shares of the oil and gas company’s stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of PBF Energy by 32.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares in the last quarter. LSV Asset Management raised its stake in shares of PBF Energy by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after purchasing an additional 34,470 shares in the last quarter. American Century Companies Inc. raised its stake in shares of PBF Energy by 3.4% during the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after purchasing an additional 32,862 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of PBF Energy by 14.8% during the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock worth $29,883,000 after purchasing an additional 84,532 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of PBF Energy by 957.8% during the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after purchasing an additional 547,509 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $32.18 on Monday. The stock’s fifty day moving average price is $32.69 and its two-hundred day moving average price is $41.40. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 5.35 and a beta of 1.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy Inc. has a one year low of $30.17 and a one year high of $62.88.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, equities analysts forecast that PBF Energy Inc. will post -2.27 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.11%. PBF Energy’s payout ratio is 16.64%.

Insider Activity

In related news, insider Control Empresarial De Capital bought 287,100 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average cost of $31.91 per share, for a total transaction of $9,161,361.00. Following the transaction, the insider now owns 24,751,498 shares in the company, valued at $789,820,301.18. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders purchased 4,239,400 shares of company stock worth $138,211,387. 5.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PBF shares. Tudor Pickering raised PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Wells Fargo & Company decreased their target price on PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Finally, Morgan Stanley decreased their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $36.09.

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.