PBF Energy Inc. (NYSE:PBF) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its stake in shares of PBF Energy Inc. (NYSE:PBF) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,062 shares of the oil and gas company’s stock after selling 1,224 shares during the period. Hancock Whitney Corp’s holdings in PBF Energy were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Symmetry Investments LP acquired a new stake in shares of PBF Energy in the 2nd quarter worth approximately $2,464,000. Sei Investments Co. boosted its position in PBF Energy by 27.0% during the second quarter. Sei Investments Co. now owns 101,593 shares of the oil and gas company’s stock worth $4,675,000 after purchasing an additional 21,574 shares in the last quarter. King Luther Capital Management Corp grew its holdings in PBF Energy by 5.0% in the second quarter. King Luther Capital Management Corp now owns 29,213 shares of the oil and gas company’s stock valued at $1,344,000 after purchasing an additional 1,402 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of PBF Energy by 346.6% in the second quarter. Canada Pension Plan Investment Board now owns 262,600 shares of the oil and gas company’s stock valued at $12,085,000 after buying an additional 203,800 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of PBF Energy in the second quarter valued at $798,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Down 1.2 %

Shares of NYSE:PBF opened at $31.63 on Tuesday. PBF Energy Inc. has a 12-month low of $30.61 and a 12-month high of $62.88. The stock’s 50-day moving average price is $35.52 and its two-hundred day moving average price is $45.42. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 2.19 and a beta of 1.56.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The company had revenue of $8.74 billion during 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 quarter in the previous year, the firm posted $2.29 earnings per share. On average, research analysts forecast that PBF Energy Inc. will post 1.25 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 670,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $31.29 per share, for a total transaction of $20,964,300.00. Following the completion of the purchase, the insider now directly owns 22,527,398 shares of the company’s stock, valued at approximately $704,882,283.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 2,584,300 shares of company stock worth $88,958,546. 5.30% of the stock is owned by insiders.

Analyst Ratings Changes

PBF has been the topic of a number of research reports. Scotiabank lowered their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Mizuho dropped 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 note on Monday, September 16th. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. The Goldman Sachs Group dropped their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Finally, Wells Fargo & Company reduced their price objective on PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.91.

PBF Energy 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.