Private Management Group Inc. Boosts Stake in PBF Energy Inc. (NYSE:PBF)

Private Management Group Inc. raised its position in PBF Energy Inc. (NYSE:PBF) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,057,295 shares of the oil and gas company’s stock after buying an additional 208,599 shares during the quarter. Private Management Group Inc. owned approximately 0.92% of PBF Energy worth $28,071,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

PBF has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Bank of America started coverage on PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price for the company. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Scotiabank decreased their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, PBF Energy currently has an average rating of “Hold” and an average price target of $32.00.

PBF Energy Stock Down 2.3 %

Shares of NYSE:PBF opened at $29.67 on Thursday. The stock has a market capitalization of $3.42 billion, a P/E ratio of -11.45 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy Inc. has a 1 year low of $24.21 and a 1 year high of $62.88. The stock has a 50-day simple moving average of $28.84 and a 200-day simple moving average of $31.73.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 409,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the transaction, the insider now directly owns 27,368,498 shares of the company’s stock, valued at approximately $864,297,166.84. This represents a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 1,818,500 shares of company stock valued at $54,171,810 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

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.