Magnetar Financial LLC purchased a new stake in PBF Energy Inc. (NYSE:PBF – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 24,222 shares of the oil and gas company’s stock, valued at approximately $1,394,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its stake in PBF Energy by 10.4% in the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 172 shares during the last quarter. Fifth Third Bancorp lifted its stake in PBF Energy by 30.4% in the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 222 shares during the last quarter. GAMMA Investing LLC lifted its stake in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the last quarter. Center For Asset Management LLC lifted its stake in PBF Energy by 3.9% in the first quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 228 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in PBF Energy by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.
PBF Energy Stock Performance
PBF Energy stock traded up $0.22 during midday trading on Friday, hitting $40.46. The company’s stock had a trading volume of 1,837,927 shares, compared to its average volume of 1,859,921. PBF Energy Inc. has a 1-year low of $37.62 and a 1-year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. The company has a 50-day moving average price of $44.17 and a two-hundred day moving average price of $49.12. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 2.80 and a beta of 1.60.
PBF Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s dividend payout ratio is currently 6.92%.
Insider Buying and Selling at PBF Energy
In other news, insider Control Empresarial De Capital bought 51,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $46.19 per share, with a total value of $2,355,690.00. Following the acquisition, the insider now directly owns 14,875,198 shares in the company, valued at $687,085,395.62. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 2,091,100 shares of company stock valued at $93,004,617 in the last ninety days. 5.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Piper Sandler cut their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Scotiabank cut their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group cut their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, TD Cowen cut their target price on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.30.
Read Our Latest Research Report on PBF Energy
PBF Energy Company Profile
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.
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