PBF Energy Inc. (NYSE:PBF) Position Boosted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in PBF Energy Inc. (NYSE:PBF) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 336,300 shares of the oil and gas company’s stock after buying an additional 17,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.29% of PBF Energy worth $8,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PBF. Norges Bank acquired a new position in PBF Energy in the fourth quarter worth $20,896,000. JPMorgan Chase & Co. raised its stake in PBF Energy by 60.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock worth $39,628,000 after acquiring an additional 562,287 shares during the period. Van ECK Associates Corp lifted its holdings in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after acquiring an additional 392,776 shares during the last quarter. Private Management Group Inc. grew its holdings in shares of PBF Energy by 24.6% during the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company’s stock valued at $28,071,000 after purchasing an additional 208,599 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock worth $49,532,000 after purchasing an additional 187,351 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Up 1.1 %

Shares of PBF Energy stock opened at $15.45 on Tuesday. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $58.17. The firm has a market capitalization of $1.78 billion, a PE ratio of -3.28 and a beta of 1.15. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $19.43 and its 200-day moving average is $26.18.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 7.12%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the completion of the transaction, the insider now owns 29,084,998 shares of the company’s stock, valued at approximately $860,915,940.80. This trade represents a 0.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 727,000 shares of company stock worth $17,562,580. 5.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PBF. The Goldman Sachs Group dropped their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Mizuho decreased their price objective on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 1st. Scotiabank cut their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, PBF Energy currently has an average rating of “Hold” and a consensus target price of $24.18.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.