Principal Financial Group Inc. boosted its position in shares of PBF Energy Inc. (NYSE:PBF – Free Report) by 0.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 485,310 shares of the oil and gas company’s stock after acquiring an additional 2,552 shares during the quarter. Principal Financial Group Inc. owned about 0.38% of PBF Energy worth $21,043,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in PBF Energy in the first quarter valued at approximately $48,000. IFP Advisors Inc boosted its holdings in shares of PBF Energy by 250.0% in the 1st quarter. IFP Advisors Inc now owns 1,057 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 755 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of PBF Energy by 57.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 507 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of PBF Energy during the first quarter worth $76,000. Finally, Spire Wealth Management lifted its position in PBF Energy by 41.0% during the first quarter. Spire Wealth Management now owns 2,207 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 642 shares during the period. Hedge funds and other institutional investors own 82.02% of the company’s stock.
PBF Energy Stock Performance
PBF opened at $45.67 on Thursday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 1.90 and a beta of 1.92. The firm’s fifty day simple moving average is $43.64 and its two-hundred day simple moving average is $41.19. The company has a quick ratio of 0.81, a current ratio of 1.47 and a debt-to-equity ratio of 0.24. PBF Energy Inc. has a 52-week low of $27.00 and a 52-week high of $50.43.
PBF Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, August 16th. PBF Energy’s dividend payout ratio is currently 3.33%.
Analyst Upgrades and Downgrades
PBF has been the topic of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 price target on shares of PBF Energy in a research report on Wednesday, July 19th. Mizuho boosted their price target on PBF Energy from $45.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Bank of America lowered PBF Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $56.00 in a research report on Tuesday, August 15th. TheStreet raised shares of PBF Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 16th. Finally, Wells Fargo & Company boosted their target price on shares of PBF Energy from $47.00 to $56.00 in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average price target of $51.50.
Check Out Our Latest Research Report on PBF Energy
PBF Energy Company Profile
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.
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