Van ECK Associates Corp Acquires 184,426 Shares of PBF Energy Inc. (NYSE:PBF)

Van ECK Associates Corp boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 763.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 208,586 shares of the oil and gas company’s stock after purchasing an additional 184,426 shares during the quarter. Van ECK Associates Corp’s holdings in PBF Energy were worth $12,008,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the period. Rise Advisors LLC purchased a new position in PBF Energy during the 1st quarter valued at $27,000. Creekmur Asset Management LLC purchased a new position in PBF Energy during the 4th quarter valued at $29,000. Fifth Third Bancorp boosted its holdings in PBF Energy by 30.4% during the 1st quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 222 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in PBF Energy during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 140,000 shares of PBF Energy stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $45.73 per share, with a total value of $6,402,200.00. Following the transaction, the insider now directly owns 17,772,598 shares of the company’s stock, valued at approximately $812,740,906.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 2,091,100 shares of company stock valued at $93,004,617. Corporate insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

PBF has been the subject of a number of recent analyst reports. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $74.00 in a report on Friday, March 15th. JPMorgan Chase & Co. lowered their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday. Scotiabank upped their target price on PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. TD Cowen lowered their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, The Goldman Sachs Group lowered their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and an average target price of $54.91.

PBF Energy Stock Down 4.5 %

Shares of PBF traded down $2.06 during trading hours on Friday, hitting $43.69. The company had a trading volume of 650,485 shares, compared to its average volume of 2,036,062. The company has a market capitalization of $5.18 billion, a PE ratio of 3.06 and a beta of 1.60. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a one year low of $39.18 and a one year high of $62.88. The company’s fifty day moving average price is $47.76 and its two-hundred day moving average price is $49.54.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. As a group, equities analysts forecast that PBF Energy Inc. will post 5.26 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s payout ratio is 6.92%.

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.