EverSource Wealth Advisors LLC Acquires 1,252 Shares of PBF Energy Inc. (NYSE:PBF)

EverSource Wealth Advisors LLC increased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 152.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,071 shares of the oil and gas company’s stock after buying an additional 1,252 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in PBF Energy were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PBF. Norges Bank bought a new position in PBF Energy in the fourth quarter valued at about $54,832,000. Janus Henderson Group PLC increased its stake in shares of PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after buying an additional 547,509 shares during the period. SG Americas Securities LLC increased its stake in shares of PBF Energy by 14,785.7% in the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after buying an additional 539,381 shares during the period. Natixis acquired a new stake in shares of PBF Energy in the first quarter valued at about $16,269,000. Finally, LSV Asset Management grew its stake in PBF Energy by 20.4% during the fourth quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after purchasing an additional 216,400 shares during the period. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Performance

NYSE PBF traded up $1.29 on Tuesday, hitting $36.71. 1,534,146 shares of the company’s stock were exchanged, compared to its average volume of 2,079,172. 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 price is $42.89 and its two-hundred day moving average price is $49.03. PBF Energy Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $62.88. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 2.50 and a beta of 1.60.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.68%. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the company posted $2.29 EPS. PBF Energy’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts expect that PBF Energy Inc. will post 2.19 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.72%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho decreased their target price on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Wells Fargo & Company decreased their target price on PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. The Goldman Sachs Group decreased their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Piper Sandler decreased their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, TD Cowen decreased their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $54.30.

Insider Activity

In related news, insider Control Empresarial De Capital bought 200,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $45.37 per share, with a total value of $9,074,000.00. Following the purchase, the insider now directly owns 14,824,198 shares of the company’s stock, valued at approximately $672,573,863.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have acquired 2,398,100 shares of company stock valued at $105,045,157. 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.