Old West Investment Management LLC Purchases Shares of 140,690 PBF Energy Inc. $PBF

Old West Investment Management LLC acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 140,690 shares of the oil and gas company’s stock, valued at approximately $4,245,000.

Other large investors have also modified their holdings of the company. Deseret Mutual Benefit Administrators raised its stake in PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 440 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of PBF Energy during the third quarter worth about $41,000. SBI Securities Co. Ltd. lifted its holdings in shares of PBF Energy by 66.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 818 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,354 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Up 3.0%

Shares of NYSE:PBF opened at $35.54 on Friday. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $30.68 and its 200-day simple moving average is $29.98. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 6.10 and a beta of 0.50.

Insiders Place Their Bets

In related news, SVP Paul T. Davis sold 50,000 shares of PBF Energy stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the sale, the senior vice president directly owned 192,391 shares in the company, valued at $7,310,858. The trade was a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 50,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $40.83, for a total value of $2,041,500.00. Following the completion of the transaction, the senior vice president owned 205,340 shares of the company’s stock, valued at $8,384,032.20. The trade was a 19.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,368,576 shares of company stock worth $47,315,444. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler set a $41.00 target price on shares of PBF Energy in a research report on Monday, January 12th. Citigroup lifted their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Wall Street Zen upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Wolfe Research lowered PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a report on Monday, December 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 price objective on shares of PBF Energy in a research note on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $30.14.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.