Key Financial Inc Increases Stake in PBF Energy Inc. (NYSE:PBF)

Key Financial Inc grew its stake in PBF Energy Inc. (NYSE:PBFFree Report) by 2,351.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,328 shares of the oil and gas company’s stock after purchasing an additional 10,866 shares during the period. Key Financial Inc’s holdings in PBF Energy were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of PBF Energy by 27.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 573 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of PBF Energy by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after purchasing an additional 485 shares during the period. Dakota Wealth Management acquired a new stake in shares of PBF Energy in the third quarter valued at about $694,000. International Assets Investment Management LLC increased its stake in shares of PBF Energy by 539.7% during the third quarter. International Assets Investment Management LLC now owns 20,118 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 16,973 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,027 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 50,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $35.60 per share, for a total transaction of $1,780,000.00. Following the acquisition, the insider now directly owns 18,179,598 shares in the company, valued at $647,193,688.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired 4,307,400 shares of company stock valued at $137,242,347 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Morgan Stanley reduced their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Mizuho reduced their price objective on PBF Energy from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Finally, BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $34.45.

Get Our Latest Analysis on PBF Energy

PBF Energy Trading Down 1.5 %

NYSE:PBF traded down $0.44 during trading hours on Friday, reaching $28.08. 2,739,952 shares of the stock were exchanged, compared to its average volume of 2,179,454. PBF Energy Inc. has a twelve month low of $27.94 and a twelve month high of $62.88. The business has a 50-day moving average of $32.15 and a two-hundred day moving average of $40.48. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 4.67 and a beta of 1.55. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBFGet Free Report) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.40) by ($0.10). The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. PBF Energy’s revenue was down 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.61 EPS. On average, equities analysts predict that PBF Energy Inc. will post -2.27 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.92%. PBF Energy’s dividend payout ratio is 16.64%.

PBF Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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