Prospera Financial Services Inc Invests $453,000 in PBF Energy Inc. $PBF

Prospera Financial Services Inc bought a new position in shares of PBF Energy Inc. (NYSE:PBF) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,701 shares of the oil and gas company’s stock, valued at approximately $453,000.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC increased its holdings in shares of PBF Energy by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock worth $16,519,000 after purchasing an additional 40,129 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of PBF Energy during the third quarter worth approximately $823,000. Allianz Asset Management GmbH increased its holdings in shares of PBF Energy by 1,232.0% during the third quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock worth $8,058,000 after purchasing an additional 247,039 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of PBF Energy by 264.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock worth $2,922,000 after purchasing an additional 70,312 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of PBF Energy during the third quarter worth approximately $1,546,000. 96.29% of the stock is owned by institutional investors.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total value of $2,531,000.00. Following the sale, the director owned 790,716 shares in the company, valued at $40,026,043.92. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Control Empresarial De Capital sold 220,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.91, for a total transaction of $10,100,200.00. Following the completion of the sale, the insider owned 18,468,698 shares in the company, valued at $847,897,925.18. This represents a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,668,525 shares of company stock worth $445,714,251 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF opened at $40.59 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.15 and a beta of 0.15. The firm’s 50 day simple moving average is $42.91 and its 200 day simple moving average is $37.09. PBF Energy Inc. has a 1 year low of $17.53 and a 1 year high of $52.18.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same quarter in the prior year, the business posted ($3.53) EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, research analysts expect that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.7%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PBF shares. Morgan Stanley raised their target price on shares of PBF Energy from $27.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. TD Cowen reduced their price target on shares of PBF Energy from $41.00 to $36.00 and set a “sell” rating on the stock in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and an average target price of $36.15.

PBF Energy 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.