Bridgewater Associates LP Has $2.90 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Bridgewater Associates LP grew its holdings in PBF Energy Inc. (NYSE:PBF) by 40.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,566 shares of the oil and gas company’s stock after buying an additional 26,952 shares during the period. Bridgewater Associates LP’s holdings in PBF Energy were worth $2,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PBF. Price T Rowe Associates Inc. MD lifted its holdings in PBF Energy by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 189,462 shares of the oil and gas company’s stock valued at $10,908,000 after purchasing an additional 11,683 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of PBF Energy by 720.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock worth $2,480,000 after buying an additional 37,826 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of PBF Energy by 10.2% during the 1st quarter. Tidal Investments LLC now owns 7,820 shares of the oil and gas company’s stock worth $450,000 after buying an additional 726 shares during the period. Comerica Bank grew its stake in PBF Energy by 13.9% in the 1st quarter. Comerica Bank now owns 50,951 shares of the oil and gas company’s stock valued at $2,933,000 after buying an additional 6,219 shares during the last quarter. Finally, Boston Partners bought a new position in PBF Energy in the 1st quarter valued at about $1,393,000. 96.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PBF shares. Bank of America began coverage on PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective for the company. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Wells Fargo & Company reduced their target price on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Mizuho lowered their price target on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average price target of $34.18.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 805,300 shares of the stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $32.62 per share, for a total transaction of $26,268,886.00. Following the completion of the acquisition, the insider now owns 20,634,898 shares of the company’s stock, valued at approximately $673,110,372.76. This represents a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 4,649,400 shares of company stock worth $147,107,697. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF opened at $31.49 on Friday. The firm’s 50 day simple moving average is $31.43 and its 200 day simple moving average is $37.20. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -12.16 and a beta of 1.56. 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 Inc. has a 1 year low of $27.94 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the business posted $6.61 EPS. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, research analysts expect that PBF Energy Inc. will post -2.86 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is -42.47%.

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.