Mackenzie Financial Corp Buys 103,310 Shares of PBF Energy Inc. (NYSE:PBF)

Mackenzie Financial Corp raised its stake in shares of PBF Energy Inc. (NYSE:PBF) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 489,344 shares of the oil and gas company’s stock after purchasing an additional 103,310 shares during the period. Mackenzie Financial Corp owned 0.40% of PBF Energy worth $21,512,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PBF. Louisiana State Employees Retirement System acquired a new position in shares of PBF Energy during the 4th quarter worth about $1,341,000. Simplicity Solutions LLC lifted its holdings in shares of PBF Energy by 22.0% during the fourth quarter. Simplicity Solutions LLC now owns 6,980 shares of the oil and gas company’s stock worth $307,000 after buying an additional 1,260 shares during the last quarter. Kendall Capital Management boosted its position in shares of PBF Energy by 5.4% in the fourth quarter. Kendall Capital Management now owns 16,405 shares of the oil and gas company’s stock valued at $721,000 after acquiring an additional 835 shares during the period. International Assets Investment Management LLC grew its stake in shares of PBF Energy by 4,296.0% in the fourth quarter. International Assets Investment Management LLC now owns 120,670 shares of the oil and gas company’s stock worth $5,305,000 after acquiring an additional 117,925 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in PBF Energy by 22.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,980 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 1,260 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 3.1 %

NYSE PBF opened at $55.49 on Friday. The stock’s 50 day simple moving average is $53.81 and its 200 day simple moving average is $48.34. PBF Energy Inc. has a one year low of $31.25 and a one year high of $62.88. The firm has a market cap of $6.63 billion, a PE ratio of 3.37 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. PBF Energy’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.41 earnings per share. As a group, sell-side analysts forecast that PBF Energy Inc. will post 5.88 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s dividend payout ratio is 6.08%.

Analyst Ratings Changes

Several research firms have recently issued reports on PBF. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $74.00 in a report on Friday, March 15th. JPMorgan Chase & Co. upped their price target on PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company lifted their price objective on PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler upped their target price on PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Scotiabank lifted their price target on shares of PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $57.55.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 12,200 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were bought at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the transaction, the insider now owns 14,345,198 shares in the company, valued at approximately $629,180,384.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital bought 12,200 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was bought at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the purchase, the insider now directly owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. Insiders sold a total of 180,000 shares of company stock worth $10,074,600 over the last three months. 5.30% of the stock is currently owned by company 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.