7,156 Shares in PBF Energy Inc. (NYSE:PBF) Acquired by Bleakley Financial Group LLC

Posted by Defense World Staff on May 9th, 2023

Bleakley Financial Group LLC purchased a new position in shares of PBF Energy Inc. (NYSE:PBF – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,156 shares of the oil and gas company’s stock, valued at approximately $292,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of PBF Energy by 12.2% during the 1st quarter. JPMorgan Chase & Co. now owns 396,209 shares of the oil and gas company’s stock worth $9,656,000 after buying an additional 43,143 shares during the last quarter. Raymond James & Associates acquired a new stake in PBF Energy during the first quarter worth about $224,000. MetLife Investment Management LLC raised its holdings in shares of PBF Energy by 56.1% in the 1st quarter. MetLife Investment Management LLC now owns 51,879 shares of the oil and gas company’s stock worth $1,264,000 after purchasing an additional 18,652 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of PBF Energy in the 1st quarter valued at about $578,000. Finally, Rhumbline Advisers grew its holdings in shares of PBF Energy by 0.3% during the 1st quarter. Rhumbline Advisers now owns 308,096 shares of the oil and gas company’s stock worth $7,508,000 after purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PBF shares. Mizuho raised their price target on shares of PBF Energy from $50.00 to $56.00 in a report on Friday, March 10th. Wells Fargo & Company reduced their target price on shares of PBF Energy from $58.00 to $51.00 in a report on Tuesday, April 18th. Morgan Stanley increased their price target on PBF Energy from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, January 20th. StockNews.com cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on PBF Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.00.

PBF Energy Trading Up 2.1 %

Shares of PBF opened at $32.69 on Tuesday. PBF Energy Inc. has a one year low of $24.63 and a one year high of $49.00. The stock has a 50-day moving average price of $40.21 and a 200 day moving average price of $41.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market capitalization of $4.22 billion, a P/E ratio of 1.27 and a beta of 1.95.

PBF Energy (NYSE:PBF – Get Rating) last announced its earnings results on Friday, May 5th. The oil and gas company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.11. PBF Energy had a return on equity of 71.82% and a net margin of 6.98%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same period in the prior year, the company posted $0.35 EPS. PBF Energy’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that PBF Energy Inc. will post 10.53 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Wednesday, May 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, May 16th. PBF Energy’s dividend payout ratio is currently 3.10%.

About PBF Energy

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PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.