Highland Capital Management LLC Invests $221,000 in PBF Energy Inc. (NYSE:PBF)

Highland Capital Management LLC purchased a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,836 shares of the oil and gas company’s stock, valued at approximately $221,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of PBF Energy by 5.3% in the third quarter. Wellington Management Group LLP now owns 342,136 shares of the oil and gas company’s stock valued at $18,315,000 after acquiring an additional 17,197 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of PBF Energy by 57.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 43,550 shares of the oil and gas company’s stock worth $2,331,000 after purchasing an additional 15,910 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of PBF Energy in the third quarter valued at approximately $287,000. Diversified Trust Co increased its stake in PBF Energy by 10.8% during the 4th quarter. Diversified Trust Co now owns 5,464 shares of the oil and gas company’s stock worth $240,000 after acquiring an additional 532 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in PBF Energy in the 4th quarter valued at $44,000. 96.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 38,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $43.65 per share, with a total value of $1,658,700.00. Following the completion of the purchase, the insider now owns 16,042,098 shares in the company, valued at approximately $700,237,577.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have purchased 2,091,100 shares of company stock valued at $93,004,617. 5.30% of the stock is currently owned by company insiders.

PBF Energy Trading Down 0.1 %

NYSE PBF traded down $0.05 during trading hours on Friday, reaching $40.72. The company’s stock had a trading volume of 1,535,444 shares, compared to its average volume of 1,739,024. The firm has a fifty day simple moving average of $46.22 and a 200-day simple moving average of $49.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. PBF Energy Inc. has a 52 week low of $39.46 and a 52 week high of $62.88. The stock has a market cap of $4.83 billion, a P/E ratio of 2.82 and a beta of 1.60.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. Equities analysts forecast that PBF Energy Inc. will post 4.59 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Analyst Ratings Changes

PBF has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Piper Sandler cut their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, June 14th. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. TD Cowen reduced their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Mizuho lowered their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $53.91.

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.