International Assets Investment Management LLC Buys 16,973 Shares of PBF Energy Inc. (NYSE:PBF)

International Assets Investment Management LLC boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 539.7% during the third quarter, Holdings Channel reports. The institutional investor owned 20,118 shares of the oil and gas company’s stock after acquiring an additional 16,973 shares during the quarter. International Assets Investment Management LLC’s holdings in PBF Energy were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in PBF Energy by 105.8% during the third quarter. Stratos Wealth Advisors LLC now owns 43,709 shares of the oil and gas company’s stock worth $1,353,000 after buying an additional 22,470 shares in the last quarter. nVerses Capital LLC boosted its stake in PBF Energy by 48.3% during the third quarter. nVerses Capital LLC now owns 8,600 shares of the oil and gas company’s stock worth $266,000 after buying an additional 2,800 shares in the last quarter. Bfsg LLC boosted its stake in PBF Energy by 23.5% during the third quarter. Bfsg LLC now owns 7,120 shares of the oil and gas company’s stock worth $220,000 after buying an additional 1,354 shares in the last quarter. Finally, Creative Planning boosted its stake in PBF Energy by 50.3% during the third quarter. Creative Planning now owns 26,898 shares of the oil and gas company’s stock worth $832,000 after buying an additional 9,003 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Up 1.7 %

Shares of NYSE PBF opened at $28.84 on Wednesday. The firm’s 50-day simple moving average is $31.98 and its 200 day simple moving average is $39.86. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -11.14 and a beta of 1.56. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a 12-month low of $27.94 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm’s quarterly revenue was down 21.9% on a year-over-year basis. During the same quarter last year, the company earned $6.61 EPS. On average, research analysts expect that PBF Energy Inc. will post -2.32 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.81%. The ex-dividend date is Wednesday, November 13th. PBF Energy’s payout ratio is currently -42.47%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PBF. Piper Sandler downgraded shares of PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. UBS Group reduced their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Morgan Stanley reduced their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Scotiabank reduced their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $34.18.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 40,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was purchased at an average cost of $30.93 per share, with a total value of $1,237,200.00. Following the acquisition, the insider now owns 23,407,398 shares of the company’s stock, valued at $723,990,820.14. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 4,407,400 shares of company stock valued at $139,761,347. 6.20% of the stock is currently owned by 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.