Farther Finance Advisors LLC Boosts Holdings in PBF Energy Inc. (NYSE:PBF)

Farther Finance Advisors LLC increased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 27.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,626 shares of the oil and gas company’s stock after purchasing an additional 573 shares during the period. Farther Finance Advisors LLC’s holdings in PBF Energy were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after acquiring an additional 547,509 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of PBF Energy by 246.5% in the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after buying an additional 355,329 shares during the period. Acadian Asset Management LLC grew its position in shares of PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after buying an additional 347,268 shares in the last quarter. Natixis acquired a new stake in PBF Energy in the first quarter valued at approximately $16,269,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in PBF Energy by 59.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 581,045 shares of the oil and gas company’s stock worth $33,451,000 after acquiring an additional 215,689 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

Shares of PBF stock opened at $30.12 on Wednesday. The stock’s 50-day moving average price is $31.76 and its 200 day moving average price is $39.11. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.47 billion, a PE ratio of -11.76 and a beta of 1.56. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during 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 revenue was down 21.9% on a year-over-year basis. During the same quarter last year, the business posted $6.61 EPS. As a group, equities research analysts forecast that PBF Energy Inc. will post -2.73 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.275 dividend. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is currently -38.61%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of analyst reports. Wolfe Research assumed coverage on PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Mizuho reduced their price target on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. TD Cowen dropped their price objective on PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Scotiabank reduced their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $34.18.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 805,300 shares of PBF Energy stock in a transaction on Thursday, September 5th. The stock was bought at an average price of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the acquisition, the insider now owns 20,634,898 shares in the company, valued at $673,110,372.76. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired a total of 4,492,400 shares of company stock worth $142,172,797 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

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.