Inceptionr LLC Purchases 2,428 Shares of PBF Energy Inc. (NYSE:PBF)

Inceptionr LLC increased its position in PBF Energy Inc. (NYSE:PBF) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,200 shares of the oil and gas company’s stock after purchasing an additional 2,428 shares during the quarter. Inceptionr LLC’s holdings in PBF Energy were worth $297,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC increased its position in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares during the last quarter. Quarry LP acquired a new position in shares of PBF Energy during the 3rd quarter worth approximately $48,000. Golden State Wealth Management LLC acquired a new position in shares of PBF Energy during the 4th quarter worth approximately $61,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in PBF Energy in the 4th quarter valued at $68,000. Finally, Spire Wealth Management lifted its holdings in PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 585 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PBF shares. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price target for the company from $27.00 to $20.00 in a report on Friday, December 20th. Piper Sandler reduced their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday. UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average target price of $29.36.

PBF Energy Stock Performance

PBF opened at $21.26 on Monday. The firm has a market cap of $2.45 billion, a P/E ratio of -4.51 and a beta of 1.62. The business’s fifty day moving average is $26.55 and its 200-day moving average is $29.51. PBF Energy Inc. has a 52-week low of $18.97 and a 52-week high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Sell-side analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 5.17%. PBF Energy’s dividend payout ratio (DPR) is -23.35%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 70,000 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the purchase, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. The trade was a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,062,500 shares of company stock worth $28,442,290 over the last three months. Corporate insiders own 5.30% of the company’s stock.

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.