Recurrent Investment Advisors LLC Takes $11.52 Million Position in PBF Energy Inc. (NYSE:PBF)

Recurrent Investment Advisors LLC bought a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 372,078 shares of the oil and gas company’s stock, valued at approximately $11,516,000. PBF Energy accounts for about 1.1% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Recurrent Investment Advisors LLC owned approximately 0.32% of PBF Energy at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in shares of PBF Energy during the second quarter valued at $26,000. CWM LLC boosted its stake in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy during the third quarter valued at $59,000. Blue Trust Inc. boosted its stake in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in PBF Energy by 27.9% in the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 573 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average price of $31.75 per share, for a total transaction of $31,750,000.00. Following the transaction, the insider now directly owns 24,462,398 shares of the company’s stock, valued at approximately $776,681,136.50. This represents a 4.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 3,938,100 shares of company stock worth $122,901,631. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PBF shares. JPMorgan Chase & Co. lowered shares of PBF Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. TD Cowen lowered their price objective on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, November 1st. UBS Group lowered their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Scotiabank reduced their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, The Goldman Sachs Group reduced their target price on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.18.

PBF Energy Trading Down 1.9 %

Shares of NYSE:PBF opened at $31.29 on Thursday. PBF Energy Inc. has a twelve month low of $27.94 and a twelve month high of $62.88. The company’s 50 day moving average is $31.48 and its 200 day moving average is $36.83. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the company posted $6.61 EPS. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. Analysts expect that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.52%. The ex-dividend date was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is currently -42.47%.

About PBF Energy

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.