Advisors Asset Management Inc. Purchases 2,996 Shares of PBF Energy Inc. (NYSE:PBF)

Advisors Asset Management Inc. boosted its position in PBF Energy Inc. (NYSE:PBF) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,228 shares of the oil and gas company’s stock after acquiring an additional 2,996 shares during the period. Advisors Asset Management Inc.’s holdings in PBF Energy were worth $2,028,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in PBF Energy by 95.3% in the first 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 last quarter. Rise Advisors LLC bought a new position in PBF Energy in the first quarter valued at about $27,000. Creekmur Asset Management LLC bought a new position in PBF Energy in the fourth quarter valued at about $29,000. Fifth Third Bancorp boosted its holdings in PBF Energy by 30.4% in the first 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 last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in PBF Energy during the fourth quarter worth about $73,000. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Wolfe Research started coverage on PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their price objective on PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. TD Cowen decreased their price objective on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. cut their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Nine research 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, the stock presently has a consensus rating of “Hold” and an average target price of $54.30.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 7,500 shares of PBF Energy stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $45.65 per share, with a total value of $342,375.00. Following the completion of the purchase, the insider now owns 14,882,698 shares of the company’s stock, valued at approximately $679,395,163.70. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders bought 2,091,100 shares of company stock valued at $93,004,617. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

Shares of PBF opened at $40.46 on Friday. PBF Energy Inc. has a 1 year low of $37.62 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 2.80 and a beta of 1.60. The business has a 50-day moving average of $44.17 and a 200-day moving average of $49.12.

PBF Energy (NYSE:PBF) last released its 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. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The business had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.29 billion. As a group, equities research analysts anticipate that PBF Energy Inc. will post 3.19 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.47%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

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.