Norges Bank Makes New $20.90 Million Investment in PBF Energy Inc. (NYSE:PBF)

Norges Bank acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the fourth quarter, Holdings Channel.com reports. The fund acquired 787,051 shares of the oil and gas company’s stock, valued at approximately $20,896,000.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of PBF Energy by 2,119.6% during the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after purchasing an additional 392,776 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in PBF Energy during the third quarter valued at about $2,404,000. Raymond James Financial Inc. acquired a new position in shares of PBF Energy in the fourth quarter worth about $1,654,000. Wealthfront Advisers LLC purchased a new position in shares of PBF Energy in the fourth quarter worth approximately $4,515,000. Finally, William Blair Investment Management LLC raised its holdings in shares of PBF Energy by 1.9% during the fourth quarter. William Blair Investment Management LLC now owns 712,916 shares of the oil and gas company’s stock valued at $18,928,000 after acquiring an additional 13,573 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PBF has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. decreased their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. The Goldman Sachs Group lowered their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company reduced their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and a consensus price target of $25.55.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 100,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was purchased at an average price of $28.62 per share, with a total value of $2,862,000.00. Following the transaction, the insider now directly owns 28,984,998 shares in the company, valued at approximately $829,550,642.76. The trade was a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased 671,000 shares of company stock valued at $17,862,200 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

PBF Energy Trading Down 10.4 %

NYSE:PBF opened at $14.97 on Monday. The company has a market capitalization of $1.73 billion, a P/E ratio of -3.18 and a beta of 1.62. The stock’s 50 day moving average price is $23.04 and its 200 day moving average price is $27.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. PBF Energy Inc. has a 52 week low of $14.11 and a 52 week high of $61.88.

PBF Energy (NYSE:PBF) last posted its earnings results 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 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. On average, research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 7.35%. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

PBF Energy 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.