True Freedom Investing LLC Buys New Position in PBF Energy Inc. $PBF

True Freedom Investing LLC purchased a new position in PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,474 shares of the oil and gas company’s stock, valued at approximately $883,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBF. Pinkerton Wealth LLC acquired a new stake in PBF Energy in the 3rd quarter valued at $467,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in PBF Energy in the third quarter valued at $1,202,000. Profund Advisors LLC acquired a new position in PBF Energy during the third quarter worth $289,000. Parcion Private Wealth LLC raised its stake in PBF Energy by 14.2% during the third quarter. Parcion Private Wealth LLC now owns 5,178 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 642 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of PBF Energy during the third quarter valued at $281,000. 96.29% of the stock is owned by institutional investors.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 170,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 13,326,127 shares in the company, valued at approximately $1,173,098,959.81. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Nimbley sold 116,008 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.73, for a total value of $8,553,269.84. Following the transaction, the director owned 793,737 shares of the company’s stock, valued at approximately $58,522,229.01. The trade was a 12.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,938,006 shares of company stock worth $219,220,509. 5.50% of the stock is currently owned by insiders.

PBF Energy Price Performance

PBF opened at $77.83 on Monday. The company has a fifty day moving average price of $77.37 and a two-hundred day moving average price of $53.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.96 and a current ratio of 1.59. PBF Energy Inc. has a 52 week low of $25.62 and a 52 week high of $92.46. The firm has a market capitalization of $9.23 billion, a PE ratio of 3.48, a P/E/G ratio of 0.09 and a beta of 0.18.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, beating analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the business posted ($0.52) EPS. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. As a group, analysts anticipate that PBF Energy Inc. will post 24.77 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Thursday, November 12th will be paid a dividend of $0.3250 per share. This represents a $1.30 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 12th. This is a boost from PBF Energy’s previous quarterly dividend of $0.2750. PBF Energy’s dividend payout ratio (DPR) is 5.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PBF shares. Piper Sandler started coverage on PBF Energy in a report on Tuesday, October 27th. They set a “neutral” rating and a $94.00 price target for the company. TD Cowen lifted their price target on PBF Energy from $73.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, October 22nd. Morgan Stanley upped their price target on shares of PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a research report on Monday, September 14th. The Goldman Sachs Group raised their price objective on shares of PBF Energy from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, October 9th. Finally, UBS Group reaffirmed a “buy” rating and issued a $99.00 target price on shares of PBF Energy in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.91.

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.