Bryce Point Capital LLC Invests $802,000 in PBF Energy Inc. (NYSE:PBF)

Bryce Point Capital LLC purchased a new position in PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,192 shares of the oil and gas company’s stock, valued at approximately $802,000.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares during the period. Quarry LP bought a new position in PBF Energy during the 3rd quarter valued at $48,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the 4th quarter worth $61,000. EverSource Wealth Advisors LLC grew its stake in shares of PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of PBF Energy in the fourth quarter valued at about $68,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group dropped their target price on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Piper Sandler reduced their target price on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Morgan Stanley reduced their price objective on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Finally, Wells Fargo & Company lowered their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.55.

PBF Energy Price Performance

NYSE:PBF opened at $19.54 on Thursday. PBF Energy Inc. has a 52-week low of $18.20 and a 52-week high of $62.88. The stock has a fifty day moving average of $23.61 and a 200 day moving average of $27.95. 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 capitalization of $2.25 billion, a price-to-earnings ratio of -4.15 and a beta of 1.62.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 155,000 shares of PBF Energy stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the transaction, the insider now owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This trade 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. In the last quarter, insiders have purchased 671,000 shares of company stock worth $17,862,200. 6.70% of the stock is currently owned by corporate insiders.

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.