Trek Financial LLC Acquires 7,957 Shares of PBF Energy Inc. $PBF

Trek Financial LLC bought a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the third quarter, HoldingsChannel reports. The institutional investor bought 7,957 shares of the oil and gas company’s stock, valued at approximately $612,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PBF. Dimensional Fund Advisors LP lifted its holdings in shares of PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after buying an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after buying an additional 1,137,533 shares during the period. Sei Investments Co. increased its stake in shares of PBF Energy by 41.4% during the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock valued at $17,367,000 after buying an additional 106,819 shares during the period. Empowered Funds LLC increased its stake in shares of PBF Energy by 198.0% during the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock valued at $16,944,000 after buying an additional 236,418 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PBF Energy by 361.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock valued at $8,718,000 after acquiring an additional 148,124 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

PBF Energy Stock Up 3.6%

Shares of NYSE PBF opened at $77.76 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $9.22 billion, a PE ratio of 3.47, a price-to-earnings-growth ratio of 0.08 and a beta of 0.15. The stock’s fifty day simple moving average is $77.56 and its two-hundred day simple moving average is $53.94. PBF Energy Inc. has a 12-month low of $25.62 and a 12-month high of $92.46.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.12 by $1.66. The business had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $10.60 billion. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The business’s revenue was up 58.6% compared to the same quarter last year. During the same period last year, the business posted ($0.52) EPS. As a group, analysts expect that PBF Energy Inc. will post 25.17 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Thursday, November 12th will be given a dividend of $0.3250 per share. The ex-dividend date of this dividend is Thursday, November 12th. This is an increase from PBF Energy’s previous quarterly dividend of $0.2750. This represents a $1.30 dividend on an annualized basis and a yield of 1.7%. PBF Energy’s dividend payout ratio is 4.91%.

Insider Activity at PBF Energy

In other PBF Energy news, CAO Steven John Andriola sold 2,522 shares of PBF Energy stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $76.69, for a total value of $193,412.18. Following the transaction, the chief accounting officer owned 16,659 shares in the company, valued at $1,277,578.71. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Nimbley sold 116,008 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 793,737 shares of the company’s stock, 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 have sold a total of 2,864,531 shares of company stock valued at $214,420,159 over the last quarter. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of PBF Energy in a research note on Thursday, October 1st. Morgan Stanley raised their target price on shares of PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a research report on Monday, September 14th. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Piper Sandler boosted their price target on shares of PBF Energy from $94.00 to $97.00 and gave the company a “neutral” rating in a report on Monday. Finally, UBS Group reaffirmed a “buy” rating and issued a $99.00 price target on shares of PBF Energy in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $70.50.

About PBF Energy

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.