Janney Montgomery Scott LLC Invests $1.38 Million in PBF Energy Inc (NYSE:PBF)

Janney Montgomery Scott LLC bought a new position in shares of PBF Energy Inc (NYSE:PBF) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 50,813 shares of the oil and gas company’s stock, valued at approximately $1,382,000.

Several other hedge funds have also made changes to their positions in PBF. Nuveen Asset Management LLC acquired a new position in shares of PBF Energy during the 2nd quarter worth approximately $32,081,000. PointState Capital LP acquired a new position in shares of PBF Energy during the 2nd quarter worth approximately $20,890,000. Towle & Co. raised its stake in shares of PBF Energy by 132.0% during the 2nd quarter. Towle & Co. now owns 1,150,514 shares of the oil and gas company’s stock worth $36,011,000 after buying an additional 654,670 shares during the period. Van ECK Associates Corp raised its stake in shares of PBF Energy by 97.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,217,755 shares of the oil and gas company’s stock worth $38,116,000 after buying an additional 599,870 shares during the period. Finally, Invesco Ltd. raised its stake in shares of PBF Energy by 29.9% during the 2nd quarter. Invesco Ltd. now owns 2,297,906 shares of the oil and gas company’s stock worth $71,924,000 after buying an additional 528,380 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

NYSE PBF opened at $32.81 on Friday. The business has a fifty day moving average price of $28.95 and a 200 day moving average price of $27.63. PBF Energy Inc has a one year low of $21.09 and a one year high of $40.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.64 and a current ratio of 1.56. The company has a market cap of $4.00 billion, a P/E ratio of 10.06, a P/E/G ratio of 6.29 and a beta of 1.65.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.07. PBF Energy had a positive return on equity of 4.77% and a negative net margin of 0.36%. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the prior year, the company earned $1.13 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that PBF Energy Inc will post 0.77 EPS for the current fiscal year.

The company also recently disclosed a dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. This is an increase from PBF Energy’s previous dividend of $0.29. The ex-dividend date is Wednesday, November 13th. PBF Energy’s dividend payout ratio is currently 36.81%.

PBF has been the subject of several research analyst reports. Royal Bank of Canada set a $32.00 target price on PBF Energy and gave the stock a “hold” rating in a research note on Friday, November 1st. Cowen raised PBF Energy from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $42.00 in a research note on Monday, October 21st. TheStreet downgraded PBF Energy from a “b-” rating to a “c” rating in a research note on Thursday, August 1st. Goldman Sachs Group raised PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price for the company in a research note on Monday, August 5th. Finally, Raymond James reissued an “outperform” rating and issued a $39.00 price objective (up from $34.00) on shares of PBF Energy in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. PBF Energy currently has an average rating of “Hold” and an average target price of $39.67.

In other news, insider Carso S.A. De C.V. Inversora acquired 335,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $22.46 per share, with a total value of $7,524,100.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders purchased 1,302,524 shares of company stock valued at $30,417,578. 3.50% of the stock is owned by corporate insiders.

PBF Energy Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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