PBF Energy Inc. (NYSE:PBF) Shares Bought by ARGA Investment Management LP

ARGA Investment Management LP raised its stake in PBF Energy Inc. (NYSE:PBF) by 15.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 43,749 shares of the oil and gas company’s stock after buying an additional 5,814 shares during the period. ARGA Investment Management LP’s holdings in PBF Energy were worth $1,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC grew its holdings in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP acquired a new position in PBF Energy in the 3rd quarter valued at about $48,000. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $59,000. Blue Trust Inc. increased its holdings in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of PBF Energy during the 4th quarter valued at approximately $68,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 57,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the completion of the purchase, the insider now directly owns 26,739,498 shares of the company’s stock, valued at $847,642,086.60. The trade was a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 1,778,500 shares of company stock worth $53,073,010. Company insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PBF. Scotiabank lowered their price objective on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $39.00 to $34.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.00.

PBF Energy Stock Performance

Shares of PBF stock opened at $30.32 on Wednesday. PBF Energy Inc. has a 52 week low of $24.21 and a 52 week high of $62.88. The firm has a 50 day moving average of $28.86 and a two-hundred day moving average of $31.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

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.