PBF Energy Inc. $PBF Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in PBF Energy Inc. (NYSE:PBF) by 1,232.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 267,091 shares of the oil and gas company’s stock after purchasing an additional 247,039 shares during the quarter. Allianz Asset Management GmbH owned about 0.23% of PBF Energy worth $8,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in PBF Energy by 230.7% during the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares during the last quarter. Private Management Group Inc. boosted its holdings in shares of PBF Energy by 6.9% during the 2nd quarter. Private Management Group Inc. now owns 1,174,201 shares of the oil and gas company’s stock worth $25,445,000 after purchasing an additional 75,546 shares during the last quarter. Bank of America Corp DE grew its position in shares of PBF Energy by 26.8% in the second quarter. Bank of America Corp DE now owns 1,143,521 shares of the oil and gas company’s stock valued at $24,780,000 after purchasing an additional 241,773 shares in the last quarter. Norges Bank acquired a new stake in shares of PBF Energy in the second quarter valued at approximately $24,599,000. Finally, JPMorgan Chase & Co. lifted its position in PBF Energy by 133.7% during the second quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock worth $22,420,000 after buying an additional 591,975 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF opened at $35.24 on Tuesday. The company has a market cap of $4.08 billion, a P/E ratio of -7.58, a P/E/G ratio of 6.28 and a beta of 0.50. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $41.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The stock has a 50-day moving average of $30.70 and a two-hundred day moving average of $30.14.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 480,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $35.07, for a total transaction of $16,833,600.00. Following the sale, the insider directly owned 29,583,498 shares in the company, valued at approximately $1,037,493,274.86. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,702,979 shares of company stock worth $58,582,600 over the last three months. Insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PBF. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. UBS Group increased their price target on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a research report on Monday, January 5th. Finally, Zacks Research lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, PBF Energy has an average rating of “Reduce” and an average target price of $30.14.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.