Tidal Investments LLC Buys Shares of 53,066 PBF Energy Inc. (NYSE:PBF)

Tidal Investments LLC bought a new stake in PBF Energy Inc. (NYSE:PBF) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,066 shares of the oil and gas company’s stock, valued at approximately $1,642,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Leavell Investment Management Inc. boosted its stake in PBF Energy by 3.0% in the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 460 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of PBF Energy by 1.7% during the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after buying an additional 485 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of PBF Energy by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock worth $400,000 after buying an additional 543 shares during the period. Highland Capital Management LLC boosted its position in shares of PBF Energy by 14.2% during the second quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $202,000 after buying an additional 546 shares during the period. Finally, National Bank of Canada FI acquired a new position in shares of PBF Energy during the second quarter worth approximately $26,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Price Performance

NYSE PBF opened at $27.92 on Wednesday. The stock has a market capitalization of $3.21 billion, a P/E ratio of -10.78 and a beta of 1.57. PBF Energy Inc. has a 1 year low of $27.27 and a 1 year high of $62.88. The business’s fifty day moving average is $31.06 and its two-hundred day moving average is $35.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy’s quarterly revenue was down 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $6.61 EPS. On average, research analysts forecast that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s payout ratio is -42.47%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 250,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $31.78 per share, with a total value of $7,945,000.00. Following the purchase, the insider now directly owns 22,952,398 shares in the company, valued at $729,427,208.44. This trade represents a 1.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 3,568,100 shares of company stock valued at $111,183,331 in the last three months. 5.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research report on Monday. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, Scotiabank dropped their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Six investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.09.

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.