PBF Energy Inc. $PBF Stock Acquired by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC grew its position in PBF Energy Inc. (NYSE:PBF) by 824.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 55,484 shares of the oil and gas company’s stock after purchasing an additional 49,484 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in PBF Energy were worth $4,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PBF. Mather Group LLC. purchased a new stake in shares of PBF Energy during the third quarter valued at approximately $37,000. Leonteq Securities AG bought a new stake in shares of PBF Energy during the first quarter valued at approximately $33,000. IFP Advisors Inc increased its position in shares of PBF Energy by 68.7% during the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 591 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in PBF Energy in the 3rd quarter worth approximately $176,000. Finally, Wedmont Private Capital purchased a new position in PBF Energy in the 3rd quarter worth approximately $186,000. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas Nimbley sold 468,139 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the sale, the director directly owned 793,737 shares in the company, valued at approximately $55,196,470.98. The trade was a 37.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Lucey sold 225,473 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at approximately $35,655,850.32. This represents a 31.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,146,374 shares of company stock valued at $304,686,537. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of PBF Energy in a research report on Thursday, October 1st. Evercore began coverage on PBF Energy in a research note on Friday, July 17th. They set an “in-line” rating and a $58.00 target price on the stock. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. TD Cowen reissued a “hold” rating on shares of PBF Energy in a report on Thursday, October 1st. Finally, Weiss Ratings upgraded PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, PBF Energy currently has an average rating of “Hold” and an average price target of $65.55.

PBF Energy Price Performance

PBF opened at $81.60 on Thursday. The company’s 50-day simple moving average is $76.93 and its two-hundred day simple moving average is $58.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The stock has a market capitalization of $9.67 billion, a P/E ratio of 7.22, a P/E/G 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.

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

PBF Energy Dividend Announcement

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

PBF Energy 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.