Victory Capital Management Inc. Sells 5,937 Shares of PBF Energy Inc. (NYSE:PBF)

Victory Capital Management Inc. decreased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,156 shares of the oil and gas company’s stock after selling 5,937 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of PBF Energy worth $3,551,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in PBF Energy during the 2nd quarter valued at about $26,000. Privium Fund Management UK Ltd raised its holdings in PBF Energy by 139.2% in the second quarter. Privium Fund Management UK Ltd now owns 25,445 shares of the oil and gas company’s stock worth $1,177,000 after buying an additional 14,806 shares during the last quarter. Versor Investments LP bought a new stake in shares of PBF Energy in the second quarter worth approximately $1,062,000. Convergence Investment Partners LLC grew its position in PBF Energy by 85.2% during the second quarter. Convergence Investment Partners LLC now owns 23,713 shares of the oil and gas company’s stock valued at $1,091,000 after buying an additional 10,908 shares during the period. Finally, nVerses Capital LLC bought a new stake in PBF Energy during the second quarter valued at approximately $267,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $44.31 per share, with a total value of $4,431,000.00. Following the acquisition, the insider now owns 17,307,598 shares in the company, valued at $766,899,667.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 3,049,500 shares of company stock valued at $109,399,914. 5.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PBF has been the subject of several recent research reports. Piper Sandler cut their target price on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Morgan Stanley dropped their price target on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group lowered their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Finally, Mizuho lowered their price objective on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.91.

PBF Energy Stock Down 0.3 %

PBF stock opened at $32.52 on Tuesday. The firm has a 50 day moving average of $36.31 and a 200 day moving average of $45.98. The stock has a market capitalization of $3.86 billion, a PE ratio of 2.25 and a beta of 1.56. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a 52 week low of $30.61 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. PBF Energy’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. Sell-side analysts forecast that PBF Energy Inc. will post 1.25 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is presently 6.92%.

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.