PBF Energy Inc. (NYSE:PBF) Position Increased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its position in shares of PBF Energy Inc. (NYSE:PBF) by 12.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,646 shares of the oil and gas company’s stock after buying an additional 4,447 shares during the quarter. Advisors Asset Management Inc.’s holdings in PBF Energy were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PBF. Quest Partners LLC lifted its stake in PBF Energy by 115.1% in the third quarter. Quest Partners LLC now owns 9,459 shares of the oil and gas company’s stock valued at $293,000 after acquiring an additional 5,061 shares during the last quarter. Royce & Associates LP bought a new position in shares of PBF Energy during the 3rd quarter valued at $215,000. MQS Management LLC bought a new position in PBF Energy during the third quarter valued at about $405,000. GSA Capital Partners LLP increased its holdings in shares of PBF Energy by 76.8% during the 3rd quarter. GSA Capital Partners LLP now owns 44,618 shares of the oil and gas company’s stock valued at $1,381,000 after acquiring an additional 19,375 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after acquiring an additional 18,173 shares in the last quarter. 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 purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average cost of $31.75 per share, with a total value of $31,750,000.00. Following the completion of the acquisition, the insider now directly owns 24,462,398 shares of the company’s stock, valued at $776,681,136.50. This represents a 4.26 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders bought 4,592,400 shares of company stock valued at $145,300,797. Corporate insiders own 6.20% of the company’s stock.

PBF Energy Trading Down 0.7 %

PBF stock opened at $31.78 on Tuesday. PBF Energy Inc. has a 1-year low of $27.94 and a 1-year high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $31.56 and its 200-day moving average is $37.60. The firm has a market cap of $3.66 billion, a P/E ratio of -12.27 and a beta of 1.56.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the company earned $6.61 earnings per share. The business’s revenue was down 21.9% compared to the same quarter last year. Equities analysts anticipate that PBF Energy Inc. will post -2.79 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.46%. 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. PBF Energy’s dividend payout ratio is currently -42.47%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBF. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Bank of America began coverage on shares of PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective on the stock. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.18.

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.