27,280 Shares in PBF Energy Inc. $PBF Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,280 shares of the oil and gas company’s stock, valued at approximately $823,000.

Several other hedge funds also recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after buying an additional 1,454,500 shares during the period. Private Management Group Inc. boosted its stake in PBF Energy by 6.9% in the second quarter. Private Management Group Inc. now owns 1,174,201 shares of the oil and gas company’s stock valued at $25,445,000 after acquiring an additional 75,546 shares during the last quarter. Bank of America Corp DE boosted its stake in PBF Energy by 26.8% in the second quarter. Bank of America Corp DE now owns 1,143,521 shares of the oil and gas company’s stock valued at $24,780,000 after acquiring an additional 241,773 shares during the last quarter. Norges Bank acquired a new stake in PBF Energy during the 2nd quarter worth $24,599,000. Finally, JPMorgan Chase & Co. raised its position in shares of PBF Energy by 133.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock valued at $22,420,000 after acquiring an additional 591,975 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler increased their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a report on Monday, December 8th. Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $31.00 to $38.00 in a report on Friday, December 12th. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Finally, Citigroup boosted their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $30.21.

Insider Transactions at PBF Energy

In other news, SVP Paul T. Davis sold 50,000 shares of PBF Energy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $44.80, for a total transaction of $2,240,000.00. Following the transaction, the senior vice president owned 183,426 shares in the company, valued at $8,217,484.80. The trade was a 21.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Nimbley sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.07, for a total value of $8,014,000.00. Following the completion of the transaction, the director owned 790,716 shares of the company’s stock, valued at $31,683,990.12. This represents a 20.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,212,979 shares of company stock valued at $158,329,922 over the last 90 days. 6.70% of the stock is owned by company insiders.

PBF Energy Price Performance

Shares of PBF stock opened at $38.08 on Tuesday. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $47.18. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -25.91, a price-to-earnings-growth ratio of 5.80 and a beta of 0.41. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $33.69 and a 200-day moving average of $32.05.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted ($2.82) EPS. On average, equities research analysts forecast 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 will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.