Old West Investment Management LLC Invests $4.25 Million in PBF Energy Inc. $PBF

Old West Investment Management LLC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 140,690 shares of the oil and gas company’s stock, valued at approximately $4,245,000. Old West Investment Management LLC owned 0.12% of PBF Energy as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in PBF Energy by 230.7% during the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares during the last quarter. Norges Bank acquired a new stake in shares of PBF Energy during the 2nd quarter worth about $24,599,000. BNP Paribas Financial Markets raised its holdings in PBF Energy by 276.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after buying an additional 755,310 shares during the period. Aegis Financial Corp acquired a new position in PBF Energy in the second quarter valued at about $13,445,000. Finally, JPMorgan Chase & Co. boosted its stake in PBF Energy by 133.7% during the second quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock worth $22,420,000 after buying an additional 591,975 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PBF. Weiss Ratings reissued a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $31.00 to $38.00 in a research report on Friday, December 12th. Wolfe Research lowered PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a research report on Monday, December 8th. The Goldman Sachs Group boosted their price objective on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Zacks Research cut PBF Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $30.14.

Insider Buying and Selling

In other news, SVP Paul T. Davis sold 50,000 shares of PBF Energy stock in a transaction on Monday, November 10th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the senior vice president directly owned 192,391 shares of the company’s stock, valued at approximately $7,310,858. The trade was a 20.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Control Empresarial De Capital sold 480,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $35.07, for a total value of $16,833,600.00. Following the completion of the transaction, the insider directly owned 29,583,498 shares in the company, valued at $1,037,493,274.86. This trade represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,368,576 shares of company stock worth $47,315,444 over the last 90 days. 5.30% of the stock is owned by insiders.

PBF Energy Trading Up 3.0%

PBF opened at $35.54 on Friday. The business has a fifty day moving average price of $30.68 and a 200 day moving average price of $29.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $41.47. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 6.10 and a beta of 0.50.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.