Creative Planning Grows Holdings in PBF Energy Inc. (NYSE:PBF)

Creative Planning grew its stake in PBF Energy Inc. (NYSE:PBF) by 50.3% during the third quarter, Holdings Channel.com reports. The fund owned 26,898 shares of the oil and gas company’s stock after acquiring an additional 9,003 shares during the period. Creative Planning’s holdings in PBF Energy were worth $832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE raised its stake in shares of PBF Energy by 5.3% in the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock valued at $452,000 after acquiring an additional 395 shares during the period. Highland Capital Management LLC raised its stake in shares of PBF Energy by 14.2% in the 2nd quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 546 shares during the period. National Bank of Canada FI purchased a new stake in shares of PBF Energy in the 2nd quarter valued at approximately $26,000. CWM LLC raised its stake in shares of PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the period. Finally, State of Michigan Retirement System raised its stake in shares of PBF Energy by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 26,700 shares of the oil and gas company’s stock valued at $1,537,000 after acquiring an additional 600 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Control Empresarial De Capital bought 300,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $29.01 per share, for a total transaction of $8,703,000.00. Following the acquisition, the insider now owns 25,640,498 shares in the company, valued at approximately $743,830,846.98. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 4,307,400 shares of company stock worth $137,242,347. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Trading Down 1.5 %

NYSE PBF opened at $28.08 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. The stock has a market capitalization of $3.29 billion, a PE ratio of -10.84 and a beta of 1.56. The firm has a 50 day moving average of $32.15 and a two-hundred day moving average of $40.36.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.10). PBF Energy had a negative return on equity of 2.78% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $6.61 EPS. The company’s revenue was down 21.9% on a year-over-year basis. As a group, research analysts expect that PBF Energy Inc. will post -2.27 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.92%. PBF Energy’s dividend payout ratio is presently -38.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PBF shares. Morgan Stanley reduced their price target 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. TD Cowen cut their target price on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday. UBS Group cut 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. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, PBF Energy currently has an average rating of “Hold” and an average price target of $34.45.

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.