PBF Energy Inc. (NYSE:PBF) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 10.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,151 shares of the oil and gas company’s stock after selling 5,910 shares during the period. Amalgamated Bank’s holdings in PBF Energy were worth $2,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PBF. Norges Bank acquired a new position in shares of PBF Energy during the 4th quarter worth approximately $54,832,000. Janus Henderson Group PLC raised its holdings in shares of PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after acquiring an additional 547,509 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of PBF Energy by 14,785.7% in the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after acquiring an additional 539,381 shares in the last quarter. Acadian Asset Management LLC increased its position in PBF Energy by 32.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares in the last quarter. Finally, Natixis purchased a new stake in PBF Energy during the 1st quarter worth about $16,269,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PBF. Wolfe Research assumed coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. UBS Group cut their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Scotiabank decreased their price objective on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Tudor Pickering raised PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.91.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 140,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $45.73 per share, with a total value of $6,402,200.00. Following the completion of the acquisition, the insider now directly owns 17,772,598 shares in the company, valued at $812,740,906.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 2,997,300 shares of company stock valued at $100,768,276. Insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE PBF opened at $31.19 on Wednesday. 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 fifty-two week low of $30.61 and a fifty-two week high of $62.88. The business has a 50 day moving average price of $35.34 and a two-hundred day moving average price of $45.29. The firm has a market cap of $3.70 billion, a PE ratio of 2.16 and a beta of 1.56.

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

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

About PBF Energy

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.