Prospera Financial Services Inc Buys Shares of 16,701 PBF Energy Inc. $PBF

Prospera Financial Services Inc bought a new stake in PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,701 shares of the oil and gas company’s stock, valued at approximately $453,000.

A number of other hedge funds also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after purchasing an additional 1,651,516 shares during the period. AQR Capital Management LLC lifted its holdings in shares of PBF Energy by 20.1% during the third quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after purchasing an additional 418,223 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of PBF Energy by 2,198.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after purchasing an additional 1,159,628 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of PBF Energy by 27.1% during the third quarter. Voloridge Investment Management LLC now owns 1,155,303 shares of the oil and gas company’s stock worth $34,855,000 after purchasing an additional 246,429 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of PBF Energy by 26.8% during the second quarter. Bank of America Corp DE now owns 1,143,521 shares of the oil and gas company’s stock worth $24,780,000 after purchasing an additional 241,773 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the completion of the transaction, the insider owned 22,996,898 shares of the company’s stock, valued at $1,062,686,656.58. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 9,668,525 shares of company stock worth $445,714,251 over the last ninety days. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PBF shares. Citigroup lifted their price target on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets lifted their price target on shares of PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. Scotiabank lifted their price target on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, PBF Energy has a consensus rating of “Reduce” and an average price target of $36.15.

PBF Energy Price Performance

Shares of NYSE PBF opened at $40.59 on Friday. PBF Energy Inc. has a twelve month low of $17.53 and a twelve month high of $52.18. The firm has a fifty day simple moving average of $42.91 and a 200 day simple moving average of $37.09. The company has a market capitalization of $4.80 billion, a PE ratio of 10.94, a P/E/G ratio of 0.15 and a beta of 0.15. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the prior year, the business earned ($3.53) EPS. PBF Energy’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that PBF Energy Inc. will post 6.7 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

PBF Energy Profile

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.