PBF Energy Inc. (NYSE:PBF) Shares Bought by ARGA Investment Management LP

ARGA Investment Management LP boosted its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 15.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,749 shares of the oil and gas company’s stock after buying an additional 5,814 shares during the quarter. ARGA Investment Management LP’s holdings in PBF Energy were worth $1,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PBF. Spire Wealth Management raised its holdings in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 585 shares during the last quarter. KBC Group NV grew its position in PBF Energy by 48.2% during the 4th quarter. KBC Group NV now owns 4,174 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 1,357 shares during the period. Blue Trust Inc. raised its stake in shares of PBF Energy by 100.5% during the 4th quarter. Blue Trust Inc. now owns 4,378 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,194 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of PBF Energy by 58.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $80,000 after buying an additional 1,100 shares during the period. Finally, Mutual Advisors LLC boosted its stake in shares of PBF Energy by 49.1% in the fourth quarter. Mutual Advisors LLC now owns 23,729 shares of the oil and gas company’s stock worth $630,000 after buying an additional 7,818 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PBF has been the subject of several recent research reports. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and reduced their price target for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $39.00 to $34.00 in a report on Monday, December 9th. Scotiabank lowered their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Bank of America assumed coverage on shares of PBF Energy in a research note on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price on the stock. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, PBF Energy currently has an average rating of “Hold” and an average target price of $32.00.

PBF Energy Price Performance

PBF stock opened at $30.32 on Wednesday. PBF Energy Inc. has a 12-month low of $24.21 and a 12-month high of $62.88. The business’s 50-day moving average is $28.86 and its 200 day moving average is $31.79. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital purchased 57,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $31.70 per share, with a total value of $1,806,900.00. Following the completion of the purchase, the insider now owns 26,739,498 shares in the company, valued at approximately $847,642,086.60. This represents a 0.21 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought a total of 1,778,500 shares of company stock worth $53,073,010 over the last quarter. 6.20% of the stock is currently owned by corporate 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.