1,960 Shares in PBF Energy Inc. (NYSE:PBF) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,960 shares of the oil and gas company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 803 shares in the last quarter. Allworth Financial LP grew its position in shares of PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,090 shares during the period. Parallel Advisors LLC raised its position in shares of PBF Energy by 80.4% during the 1st quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 1,085 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in PBF Energy by 43.5% in the first quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of PBF Energy by 61.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 1,320 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

NYSE PBF opened at $24.17 on Friday. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $42.64. The firm has a 50-day moving average price of $22.40 and a two-hundred day moving average price of $22.10. The company has a market capitalization of $2.80 billion, a P/E ratio of -2.66 and a beta of 0.84. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping analysts’ consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. PBF Energy’s revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.55%. PBF Energy’s dividend payout ratio (DPR) is currently -12.09%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 48,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their price objective on PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Citigroup increased their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Mizuho increased their price target on PBF Energy from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Tuesday, May 13th. Piper Sandler lifted their price objective on shares of PBF Energy from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Tuesday, July 22nd. Finally, Scotiabank reiterated a “sector perform” rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.08.

PBF Energy 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.