Ossiam Buys Shares of 111,100 PBF Energy Inc. (NYSE:PBF)

Ossiam acquired a new position in PBF Energy Inc. (NYSE:PBF) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 111,100 shares of the oil and gas company’s stock, valued at approximately $6,396,000. Ossiam owned 0.09% of PBF Energy as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PBF. GAMMA Investing LLC grew its position in PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC acquired a new stake in PBF Energy in the 1st quarter valued at approximately $27,000. Creekmur Asset Management LLC acquired a new stake in PBF Energy in the 4th quarter valued at approximately $29,000. Fifth Third Bancorp raised its stake in PBF Energy by 30.4% during the 1st quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 222 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in PBF Energy during the 1st quarter worth $82,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PBF shares. The Goldman Sachs Group lowered their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Wells Fargo & Company dropped their price target on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Piper Sandler decreased their price objective 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. Scotiabank lowered their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.30.

PBF Energy Stock Up 3.1 %

PBF Energy stock traded up $1.22 during mid-day trading on Thursday, hitting $40.25. The company’s stock had a trading volume of 2,512,400 shares, compared to its average volume of 2,046,344. PBF Energy Inc. has a 52-week low of $37.62 and a 52-week high of $62.88. The company has a market cap of $4.77 billion, a PE ratio of 2.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. The firm’s 50 day moving average is $44.39 and its 200 day moving average is $49.08.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The business had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.29 billion. On average, analysts anticipate that PBF Energy Inc. will post 3.19 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 140,000 shares of PBF Energy stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $45.73 per share, with a total value of $6,402,200.00. Following the completion of the transaction, the insider now owns 17,772,598 shares in the company, valued at $812,740,906.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have purchased 2,091,100 shares of company stock valued at $93,004,617. 5.30% of the stock is owned by insiders.

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.