10,132 Shares in PBF Energy Inc. $PBF Acquired by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,132 shares of the oil and gas company’s stock, valued at approximately $780,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBF. Foster Victor Wealth Advisors LLC lifted its holdings in shares of PBF Energy by 824.7% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 55,484 shares of the oil and gas company’s stock worth $4,509,000 after purchasing an additional 49,484 shares in the last quarter. Magnus Financial Group LLC acquired a new stake in PBF Energy in the 3rd quarter valued at $292,000. Quadrant Capital Group LLC acquired a new stake in PBF Energy in the 3rd quarter valued at $176,000. Range Financial Group LLC bought a new stake in PBF Energy during the 3rd quarter valued at $1,752,000. Finally, Nisa Investment Advisors LLC increased its stake in PBF Energy by 7.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 31,635 shares of the oil and gas company’s stock valued at $2,435,000 after purchasing an additional 2,271 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $81.60 on Thursday. The company has a market cap of $9.67 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. PBF Energy Inc. has a 52 week low of $25.62 and a 52 week high of $92.46. The business has a 50 day moving average price of $76.93 and a 200-day moving average price of $58.06. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.03) earnings per share. Equities analysts anticipate that PBF Energy Inc. will post 24.88 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.2750 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 170,000 shares of the firm’s stock in a transaction on 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 directly owned 13,326,127 shares in the company, valued at approximately $1,173,098,959.81. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Nimbley sold 116,008 shares of PBF Energy stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the transaction, the director directly owned 793,737 shares in the company, valued at $58,522,229.01. This represents a 12.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,146,374 shares of company stock valued at $304,686,537 over the last three months. 5.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen restated a “hold” rating on shares of PBF Energy in a report on Thursday, October 1st. Morgan Stanley raised their price objective on shares of PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday, September 14th. Mizuho lifted their price objective on shares of PBF Energy from $65.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.55.

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.