Trading Report: Today, Wells Fargo & Company MN Increases Position in PBF Energy Inc. (PBF)

Today, Wells Fargo & Company MN Increases Position in PBF Energy Inc. (PBF)

Wells Fargo & Company MN raised its position in shares of PBF Energy Inc. (NYSE:PBF) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 819,174 shares of the company’s stock after buying an additional 17,840 shares during the period. Wells Fargo & Company MN owned approximately 0.84% of PBF Energy worth $18,546,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. Prudential Financial Inc. boosted its stake in shares of PBF Energy by 491.2% in the second quarter. Prudential Financial Inc. now owns 1,483,614 shares of the company’s stock valued at $35,280,000 after buying an additional 1,232,654 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of PBF Energy by 63.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,085,580 shares of the company’s stock valued at $73,375,000 after buying an additional 1,192,834 shares during the last quarter. Anchor Capital Advisors LLC purchased a new stake in shares of PBF Energy during the second quarter valued at $20,597,000. Credit Capital Investments LLC boosted its stake in shares of PBF Energy by 2,278.0% in the second quarter. Credit Capital Investments LLC now owns 642,820 shares of the company’s stock valued at $643,000 after buying an additional 615,788 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of PBF Energy by 247.0% in the second quarter. First Trust Advisors LP now owns 854,553 shares of the company’s stock valued at $20,321,000 after buying an additional 608,286 shares during the last quarter.

Shares of PBF Energy Inc. (NYSE:PBF) traded down 0.94% on Friday, hitting $25.22. 906,249 shares of the company traded hands. The firm’s 50-day moving average is $22.86 and its 200 day moving average is $23.51. PBF Energy Inc. has a 1-year low of $19.47 and a 1-year high of $41.75. The firm’s market capitalization is $2.48 billion.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Friday, October 28th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.44 by $0.60. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.23 billion. PBF Energy had a positive return on equity of 0.11% and a negative net margin of 0.02%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 earnings per share. On average, analysts anticipate that PBF Energy Inc. will post ($0.83) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.76%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, November 4th. PBF Energy’s payout ratio is presently -2,400.00%.

Several equities research analysts have weighed in on the stock. Tudor Pickering cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Barclays PLC reissued an “equal weight” rating and set a $26.00 price target on shares of PBF Energy in a research report on Monday, August 1st. Zacks Investment Research raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 22nd. Goldman Sachs Group Inc. cut shares of PBF Energy from a “neutral” rating to a “sell” rating and dropped their price target for the company from $23.00 to $19.00 in a research report on Thursday, September 8th. Finally, Deutsche Bank AG dropped their price target on shares of PBF Energy from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, September 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. PBF Energy presently has a consensus rating of “Hold” and an average target price of $27.08.

In other news, insider Connor Thomas L. O acquired 10,000 shares of the company’s stock in a transaction on Friday, September 9th. The stock was bought at an average cost of $21.73 per share, with a total value of $217,300.00. Following the completion of the purchase, the insider now directly owns 50,000 shares of the company’s stock, valued at $1,086,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were purchased at an average cost of $21.84 per share, with a total value of $1,092,000.00. Following the completion of the purchase, the chief executive officer now directly owns 160,000 shares of the company’s stock, valued at $3,494,400. The disclosure for this purchase can be found here. Company insiders own 5.70% of the company’s stock.

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