Bryce Point Capital LLC Takes Position in PBF Energy Inc. (NYSE:PBF)

Bryce Point Capital LLC bought a new position in PBF Energy Inc. (NYSE:PBF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,192 shares of the oil and gas company’s stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. Fortitude Family Office LLC grew its holdings in PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the last quarter. Quarry LP bought a new stake in shares of PBF Energy in the third quarter worth about $48,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the 4th quarter valued at about $61,000. EverSource Wealth Advisors LLC raised its position in PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in PBF Energy in the 4th quarter worth approximately $68,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $19.54 on Thursday. The business has a fifty day moving average price of $23.61 and a 200-day moving average price of $27.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market capitalization of $2.25 billion, a PE ratio of -4.15 and a beta of 1.62. PBF Energy Inc. has a 1-year low of $18.20 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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). The firm 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%. As a group, equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 5.63%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 100,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were acquired at an average price of $28.62 per share, for a total transaction of $2,862,000.00. Following the purchase, the insider now owns 28,984,998 shares of the company’s stock, valued at approximately $829,550,642.76. The trade was a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have acquired 671,000 shares of company stock worth $17,862,200. Insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBF. Mizuho reduced their target price on PBF Energy from $28.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Piper Sandler lowered their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Morgan Stanley decreased their target price on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Finally, TD Cowen dropped their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.55.

PBF Energy Company 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.