Prudential Financial Inc. boosted its stake in shares of PBF Energy Inc. (NYSE:PBF – Get Rating) by 115.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 212,094 shares of the oil and gas company's stock after buying an additional 113,879 shares during the quarter. Prudential Financial Inc. owned approximately 0.17% of PBF Energy worth $6,509,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in PBF. Financial Management Professionals Inc. bought a new position in PBF Energy during the third quarter valued at about $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in PBF Energy during the first quarter valued at about $48,000. Point72 Hong Kong Ltd bought a new position in PBF Energy during the first quarter valued at about $76,000. Quadrant Capital Group LLC grew its position in PBF Energy by 17.6% during the second quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company's stock valued at $84,000 after buying an additional 433 shares during the period. Finally, Centaurus Financial Inc. bought a new position in PBF Energy during the second quarter valued at about $102,000. Institutional investors own 90.69% of the company's stock.
Get PBF Energy alerts:Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Mizuho restated a "buy" rating and set a $50.00 price target (up previously from $43.00) on shares of PBF Energy in a research report on Tuesday, January 10th. Wells Fargo & Company dropped their price objective on shares of PBF Energy from $59.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, January 5th. StockNews.com downgraded shares of PBF Energy from a "strong-buy" rating to a "buy" rating in a report on Thursday, December 15th. Morgan Stanley upped their price objective on shares of PBF Energy from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, January 20th. Finally, The Goldman Sachs Group upped their price objective on shares of PBF Energy from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, PBF Energy has an average rating of "Hold" and an average price target of $41.69.
PBF Energy Trading Down 4.3 %
Shares of PBF Energy stock opened at $40.20 on Thursday. The company's 50-day moving average price is $39.52 and its 200-day moving average price is $37.92. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 2.09 and a beta of 1.95. The company has a current ratio of 1.21, a quick ratio of 0.72 and a debt-to-equity ratio of 0.31. PBF Energy Inc. has a 12-month low of $16.07 and a 12-month high of $49.00.Insider Activity at PBF Energy
In related news, SVP Paul T. Davis sold 117,500 shares of the firm's stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $47.28, for a total value of $5,555,400.00. Following the sale, the senior vice president now directly owns 44,126 shares of the company's stock, valued at $2,086,277.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by insiders.
PBF Energy Company Profile
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PBF Energy, Inc engages in the operation of a petroleum refiner and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the following segments: Refining and Logistics. The Refining segment refines crude oil and other feed stocks into petroleum products.
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