Jefferies Financial Group Inc. Buys Shares of 60,157 PBF Energy Inc. (NYSE:PBF)

Jefferies Financial Group Inc. bought a new stake in PBF Energy Inc. (NYSE:PBF) in the 1st quarter, Holdings Channel reports. The institutional investor bought 60,157 shares of the oil and gas company’s stock, valued at approximately $1,148,000.

Several other large investors have also recently bought and sold shares of PBF. Canada Pension Plan Investment Board grew its position in shares of PBF Energy by 5.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company’s stock valued at $8,929,000 after buying an additional 17,400 shares during the last quarter. Norges Bank bought a new stake in shares of PBF Energy in the 4th quarter valued at about $20,896,000. Bank of New York Mellon Corp grew its position in shares of PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after buying an additional 260,464 shares during the last quarter. M&T Bank Corp bought a new stake in shares of PBF Energy in the 1st quarter valued at about $300,000. Finally, Nuveen Asset Management LLC grew its position in shares of PBF Energy by 94.7% in the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company’s stock valued at $15,104,000 after buying an additional 276,672 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 48,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $17.99 per share, with a total value of $872,515.00. Following the transaction, the insider owned 30,823,498 shares in the company, valued at $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler upped their price target on PBF Energy from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday. Wells Fargo & Company upped their price target on PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Scotiabank reiterated a “sector perform” rating and issued a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Citigroup lifted their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley lifted their price objective on PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.17.

PBF Energy Price Performance

PBF stock opened at $23.28 on Tuesday. The stock has a market capitalization of $2.69 billion, a PE ratio of -2.71 and a beta of 0.92. The company’s 50-day moving average is $22.76 and its 200-day moving average is $21.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $37.99.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) EPS. Equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 annualized dividend and a yield of 4.7%. PBF Energy’s dividend payout ratio (DPR) is presently -12.81%.

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.