William Blair Investment Management LLC Buys 13,573 Shares of PBF Energy Inc. (NYSE:PBF)

William Blair Investment Management LLC raised its position in shares of PBF Energy Inc. (NYSE:PBF) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,916 shares of the oil and gas company’s stock after purchasing an additional 13,573 shares during the period. William Blair Investment Management LLC owned approximately 0.62% of PBF Energy worth $18,928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PBF. Royce & Associates LP bought a new position in PBF Energy during the 3rd quarter worth $215,000. Quest Partners LLC raised its position in shares of PBF Energy by 115.1% during the third quarter. Quest Partners LLC now owns 9,459 shares of the oil and gas company’s stock worth $293,000 after purchasing an additional 5,061 shares during the period. Advisors Asset Management Inc. raised its holdings in PBF Energy by 12.6% during the third quarter. Advisors Asset Management Inc. now owns 39,646 shares of the oil and gas company’s stock worth $1,227,000 after buying an additional 4,447 shares during the last quarter. King Luther Capital Management Corp lifted its stake in shares of PBF Energy by 13.8% in the third quarter. King Luther Capital Management Corp now owns 33,240 shares of the oil and gas company’s stock valued at $1,029,000 after buying an additional 4,027 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of PBF Energy by 165.9% during the third quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after buying an additional 28,770 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PBF shares. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Piper Sandler cut their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company lowered their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Finally, TD Cowen cut their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.36.

PBF Energy Stock Performance

NYSE PBF opened at $22.03 on Thursday. The firm has a market cap of $2.54 billion, a P/E ratio of -4.68 and a beta of 1.62. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $25.64 and its 200-day moving average is $28.84. PBF Energy Inc. has a 12-month low of $18.97 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (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 company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Sell-side analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is -23.35%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 100,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, January 14th. The stock was acquired at an average cost of $28.62 per share, for a total transaction of $2,862,000.00. Following the completion of the transaction, the insider now directly owns 28,984,998 shares in the company, valued at $829,550,642.76. This represents a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders bought 721,000 shares of company stock worth $19,269,600. 5.30% of the stock is owned by company insiders.

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.