Allspring Global Investments Holdings LLC Sells 132,498 Shares of PBF Energy Inc. (NYSE:PBF)

Allspring Global Investments Holdings LLC decreased its position in PBF Energy Inc. (NYSE:PBF) by 92.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,716 shares of the oil and gas company’s stock after selling 132,498 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PBF Energy were worth $332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PBF. Janus Henderson Group PLC grew 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 purchasing an additional 547,509 shares during the last quarter. SG Americas Securities LLC grew its holdings 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 worth $31,262,000 after purchasing an additional 539,381 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after purchasing an additional 355,329 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of PBF Energy by 32.9% in the second 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 during the last quarter. Finally, Natixis bought a new position in shares of PBF Energy in the first quarter worth approximately $16,269,000. Institutional investors own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 300,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $29.01 per share, with a total value of $8,703,000.00. Following the transaction, the insider now directly owns 25,640,498 shares in the company, valued at $743,830,846.98. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 4,307,400 shares of company stock valued at $137,242,347 in the last quarter. 5.30% of the stock is owned by insiders.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $28.08 on Friday. 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 capitalization of $3.29 billion, a P/E ratio of -10.84 and a beta of 1.56. The business has a fifty day simple moving average of $32.15 and a two-hundred day simple moving average of $40.36. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.10). The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.78%. The business’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $6.61 EPS. On average, equities analysts forecast that PBF Energy Inc. will post -2.27 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -38.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PBF. The Goldman Sachs Group cut their target price on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. Morgan Stanley cut their price target on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. cut shares of PBF Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Wolfe Research started coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, UBS Group cut their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, PBF Energy has an average rating of “Hold” and a consensus price target of $34.45.

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.