Sunbelt Securities Inc. Has $623,000 Position in PBF Energy Inc. (NYSE:PBF)

Sunbelt Securities Inc. increased its holdings in PBF Energy Inc. (NYSE:PBF) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,540 shares of the oil and gas company’s stock after purchasing an additional 1,436 shares during the period. Sunbelt Securities Inc.’s holdings in PBF Energy were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC acquired a new position in PBF Energy in the first quarter worth $27,000. National Bank of Canada FI bought a new stake in shares of PBF Energy during the second quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy during the fourth quarter worth $29,000. Finally, CWM LLC grew its holdings in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 307,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $39.22 per share, for a total transaction of $12,040,540.00. Following the acquisition, the insider now directly owns 18,079,598 shares of the company’s stock, valued at approximately $709,081,833.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders acquired 2,897,300 shares of company stock valued at $95,603,276. Company insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $31.36 on Wednesday. The firm’s 50 day simple moving average is $34.58 and its 200 day simple moving average is $44.50. PBF Energy Inc. has a fifty-two week low of $30.17 and a fifty-two week high of $62.88. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 2.17 and a beta of 1.56. 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 (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that PBF Energy Inc. will post 0.6 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.19%. PBF Energy’s dividend payout ratio is presently 6.92%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Mizuho decreased their target price on PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Tudor Pickering raised PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Wolfe Research initiated coverage on PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Morgan Stanley dropped their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.91.

PBF Energy Company 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.