New Age Alpha Advisors LLC Invests $449,000 in PBF Energy Inc. (NYSE:PBF)

New Age Alpha Advisors LLC acquired a new stake in PBF Energy Inc. (NYSE:PBF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,920 shares of the oil and gas company’s stock, valued at approximately $449,000.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares during the last quarter. Quarry LP bought a new stake in shares of PBF Energy during the 3rd quarter valued at about $48,000. Golden State Wealth Management LLC acquired a new stake in PBF Energy during the fourth quarter worth about $61,000. EverSource Wealth Advisors LLC boosted its stake 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 valued at $65,000 after acquiring an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $68,000. Institutional investors own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PBF. Wells Fargo & Company lowered their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Piper Sandler reduced their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. TD Cowen reduced their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Mizuho reduced their price objective on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, PBF Energy has an average rating of “Hold” and an average target price of $25.55.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $19.21 on Wednesday. The business’s 50-day simple moving average is $23.81 and its 200-day simple moving average is $28.01. PBF Energy Inc. has a 52 week low of $18.20 and a 52 week high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -4.08 and a beta of 1.62.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share 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, equities research analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

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

Insider Activity

In related news, insider Control Empresarial De Capital bought 155,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $20.20 per share, for a total transaction of $3,131,000.00. Following the transaction, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This represents a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 671,000 shares of company stock worth $17,862,200. Company insiders own 5.30% of the company’s stock.

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.