PBF Energy Inc. $PBF Shares Newly Acquired by Optimist Retirement Group LLC

Optimist Retirement Group LLC acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,049 shares of the oil and gas company’s stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also modified their holdings of PBF. Leonteq Securities AG acquired a new position in shares of PBF Energy in the 1st quarter valued at approximately $33,000. Mather Group LLC. acquired a new stake in PBF Energy during the 3rd quarter worth approximately $37,000. Carolina Wealth Advisors LLC acquired a new stake in PBF Energy during the 3rd quarter worth approximately $44,000. IFP Advisors Inc raised its holdings in PBF Energy by 68.7% during the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock worth $66,000 after buying an additional 591 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake in PBF Energy by 148.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,094 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 653 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PBF. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Piper Sandler upped their target price on shares of PBF Energy from $94.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday. Weiss Ratings upgraded PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. The Goldman Sachs Group lifted their price target on PBF Energy from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, October 9th. Finally, Freedom Broker upgraded PBF Energy from a “sell” rating to a “hold” rating and boosted their price target for the company from $55.00 to $63.00 in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and a consensus price target of $70.50.

PBF Energy Price Performance

Shares of PBF opened at $72.46 on Thursday. The stock has a market capitalization of $8.59 billion, a P/E ratio of 3.24, a P/E/G ratio of 0.08 and a beta of 0.15. PBF Energy Inc. has a twelve month low of $25.62 and a twelve month high of $92.46. The company has a 50 day moving average of $77.68 and a 200-day moving average of $54.15. The company has a quick ratio of 0.96, a current ratio of 1.59 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 EPS for the quarter, topping analysts’ consensus estimates of $11.12 by $1.66. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $10.60 billion. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. As a group, equities research analysts forecast that PBF Energy Inc. will post 25.95 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Thursday, November 12th will be given a $0.3250 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 1.8%. This is an increase from PBF Energy’s previous quarterly dividend of $0.2750. The ex-dividend date of this dividend is Thursday, November 12th. PBF Energy’s payout ratio is 5.81%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, CAO Steven John Andriola sold 2,522 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $76.69, for a total transaction of $193,412.18. Following the sale, the chief accounting officer directly owned 16,659 shares of the company’s stock, valued at $1,277,578.71. The trade was a 13.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Control Empresarial De Capital sold 170,000 shares of the stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $88.03, for a total transaction of $14,965,100.00. Following the transaction, the insider owned 13,326,127 shares of the company’s stock, valued at approximately $1,173,098,959.81. This represents a 1.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 2,864,531 shares of company stock worth $214,420,159. Insiders own 5.50% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.