Cibc World Markets Corp Makes New $249,000 Investment in PBF Energy Inc. (NYSE:PBF)

Cibc World Markets Corp purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,391 shares of the oil and gas company’s stock, valued at approximately $249,000.

A number of other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in 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 valued at $31,000 after purchasing an additional 1,056 shares during the last quarter. Quarry LP purchased a new stake in shares of PBF Energy during the 3rd quarter valued at approximately $48,000. Golden State Wealth Management LLC acquired a new position in PBF Energy in the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC grew its position 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 worth $65,000 after acquiring an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy during the fourth quarter worth $68,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

PBF has been the topic of several recent analyst reports. Piper Sandler decreased their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Morgan Stanley decreased their price target on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, UBS Group lowered their price objective 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. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $27.36.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 155,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the purchase, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. The trade was a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 721,000 shares of company stock worth $19,269,600 over the last 90 days. 5.30% of the stock is owned by insiders.

PBF Energy Trading Down 2.2 %

NYSE PBF opened at $19.23 on Wednesday. PBF Energy Inc. has a 52 week low of $18.97 and a 52 week high of $62.88. The firm has a 50 day moving average of $24.98 and a two-hundred day moving average of $28.45. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.22 billion, a PE ratio of -4.08 and a beta of 1.62.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.72%. PBF Energy’s payout ratio is currently -23.35%.

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.