83,358 Shares in PBF Energy Inc. (NYSE:PBF) Bought by Foundry Partners LLC

Foundry Partners LLC acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 83,358 shares of the oil and gas company’s stock, valued at approximately $3,664,000. Foundry Partners LLC owned 0.07% of PBF Energy as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of PBF Energy by 84.5% during the 3rd quarter. Assetmark Inc. now owns 1,410,260 shares of the oil and gas company’s stock worth $75,491,000 after acquiring an additional 645,976 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PBF Energy by 26.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,093 shares of the oil and gas company’s stock worth $75,001,000 after purchasing an additional 291,284 shares during the last quarter. LSV Asset Management boosted its stake in shares of PBF Energy by 89.4% during the third quarter. LSV Asset Management now owns 1,058,504 shares of the oil and gas company’s stock valued at $56,662,000 after purchasing an additional 499,505 shares during the period. Acadian Asset Management LLC grew its holdings in shares of PBF Energy by 1,112.3% in the third quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock worth $51,718,000 after purchasing an additional 886,617 shares during the last quarter. Finally, FMR LLC increased its stake in PBF Energy by 91.3% in the 3rd quarter. FMR LLC now owns 904,537 shares of the oil and gas company’s stock worth $48,420,000 after buying an additional 431,801 shares during the period. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PBF. Piper Sandler boosted their price objective on shares of PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. TD Cowen upped their target price on PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $74.00 in a research note on Friday, March 15th. Finally, Mizuho lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. Nine research 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 has an average rating of “Hold” and an average target price of $57.55.

PBF Energy Stock Up 1.1 %

NYSE:PBF opened at $56.54 on Tuesday. The company’s 50-day simple moving average is $53.93 and its 200-day simple moving average is $48.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. PBF Energy Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $62.88. The stock has a market capitalization of $6.76 billion, a P/E ratio of 3.44 and a beta of 1.73.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. PBF Energy’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business earned $4.41 earnings per share. On average, equities analysts anticipate that PBF Energy Inc. will post 7.21 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. PBF Energy’s payout ratio is 6.08%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 12,200 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were purchased at an average cost of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now directly owns 14,345,198 shares of the company’s stock, valued at $629,180,384.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total value of $2,202,800.00. Following the completion of the transaction, the senior vice president now owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Control Empresarial De Capital purchased 12,200 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was bought at an average cost of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now directly owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. Insiders sold 180,000 shares of company stock valued at $10,074,600 in the last three months. 6.20% of the stock is owned by 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.