7,049 Shares of PBF Energy Inc. $PBF Purchased by Optimist Retirement Group LLC

Optimist Retirement Group LLC bought a new stake in PBF Energy Inc. (NYSE:PBF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,049 shares of the oil and gas company’s stock, valued at approximately $542,000.

Several other institutional investors also recently modified their holdings of the business. Leonteq Securities AG bought a new stake in shares of PBF Energy during the first quarter worth approximately $33,000. Mather Group LLC. bought a new position in PBF Energy in the third quarter valued at approximately $37,000. Carolina Wealth Advisors LLC bought a new position in PBF Energy in the third quarter valued at approximately $44,000. IFP Advisors Inc boosted its stake in PBF Energy by 68.7% in the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 591 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in PBF Energy by 148.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,094 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 653 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PBF. Weiss Ratings upgraded shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Freedom Broker raised PBF Energy from a “sell” rating to a “hold” rating and increased their price target for the company from $55.00 to $63.00 in a research note on Monday. TD Cowen raised their price target on PBF Energy from $73.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. BMO Capital Markets restated a “market perform” rating on shares of PBF Energy in a research report on Thursday, October 1st. Finally, Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.50.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 170,000 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $88.03, for a total value of $14,965,100.00. Following the completion of the transaction, the insider owned 13,326,127 shares of the company’s stock, valued at $1,173,098,959.81. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Nimbley sold 116,008 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the completion of the sale, the director owned 793,737 shares of the company’s stock, valued at approximately $58,522,229.01. This represents a 12.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,864,531 shares of company stock worth $214,420,159. Company insiders own 5.50% of the company’s stock.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $72.46 on Thursday. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 3.24, a P/E/G ratio of 0.08 and a beta of 0.15. The firm’s 50 day simple moving average is $77.68 and its 200 day simple moving average is $54.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.59 and a quick ratio of 0.96. PBF Energy Inc. has a fifty-two week low of $25.62 and a fifty-two week high of $92.46.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, topping the consensus estimate of $11.12 by $1.66. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $10.60 billion. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. PBF Energy’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) EPS. As a group, sell-side analysts forecast that PBF Energy Inc. will post 25.95 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Thursday, November 12th will be issued a $0.3250 dividend. This represents a $1.30 annualized dividend and a yield of 1.8%. This is a boost from PBF Energy’s previous quarterly dividend of $0.2750. The ex-dividend date is Thursday, November 12th. PBF Energy’s dividend payout ratio (DPR) is 5.81%.

About PBF Energy

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.