Lighthouse Investment Partners LLC Has $664,000 Position in PBF Energy Inc. (NYSE:PBF)

Lighthouse Investment Partners LLC cut its stake in PBF Energy Inc. (NYSE:PBF) by 58.4% during the fourth quarter, HoldingsChannel reports. The fund owned 25,000 shares of the oil and gas company’s stock after selling 35,128 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in PBF Energy were worth $664,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PBF. Golden State Wealth Management LLC purchased a new position in PBF Energy in the fourth quarter valued at about $61,000. EverSource Wealth Advisors LLC lifted its holdings in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 614 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PBF Energy in the 4th quarter valued at approximately $68,000. Spire Wealth Management increased its holdings in PBF Energy by 28.2% in the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after buying an additional 585 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in PBF Energy by 58.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $80,000 after acquiring an additional 1,100 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 20,000 shares of PBF Energy stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average cost of $19.09 per share, with a total value of $381,800.00. Following the completion of the transaction, the insider now directly owns 30,534,998 shares in the company, valued at $582,913,111.82. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 331,000 shares of company stock worth $6,075,180 in the last ninety days. Insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley decreased their target price on shares of PBF Energy from $28.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Mizuho upped their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the stock an “underperform” rating in a report on Tuesday. UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $26.00 in a research report on Tuesday. TD Cowen reduced their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank decreased their price target on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.91.

PBF Energy Stock Performance

PBF opened at $22.62 on Thursday. 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 stock’s 50 day moving average price is $18.07 and its two-hundred day moving average price is $24.58. The firm has a market capitalization of $2.61 billion, a P/E ratio of -4.80 and a beta of 0.76. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $51.63.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. PBF Energy’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy’s dividend payout ratio (DPR) is presently -12.09%.

PBF Energy Company 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.