Janney Montgomery Scott LLC Makes New Investment in PBF Energy Inc. (NYSE:PBF)

Janney Montgomery Scott LLC purchased a new position in shares of PBF Energy Inc. (NYSE:PBF) in the fourth quarter, HoldingsChannel reports. The fund purchased 7,537 shares of the oil and gas company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBF. Fortitude Family Office LLC lifted its holdings in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares during the period. Quarry LP acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $48,000. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $59,000. Blue Trust Inc. lifted its holdings in shares of PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 2,027 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of PBF Energy in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

NYSE:PBF opened at $23.33 on Friday. PBF Energy Inc. has a 12 month low of $22.03 and a 12 month high of $62.88. The stock has a 50 day moving average of $28.43 and a two-hundred day moving average of $31.32. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.69 billion, a P/E ratio of -9.01 and a beta of 1.60.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. On average, analysts expect that PBF Energy Inc. will post -3.75 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.72%. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and decreased their price objective for the company from $27.00 to $20.00 in a report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, Bank of America began coverage on PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price target for the company. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 409,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the completion of the transaction, the insider now directly owns 27,368,498 shares of the company’s stock, valued at approximately $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 1,968,500 shares of company stock worth $58,476,810. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.