Victory Capital Management Inc. Sells 11,346 Shares of PBF Energy Inc. (NYSE:PBF)

Victory Capital Management Inc. lowered its stake in shares of PBF Energy Inc. (NYSE:PBF) by 14.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,810 shares of the oil and gas company’s stock after selling 11,346 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of PBF Energy worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PBF. National Bank of Canada FI bought a new position in PBF Energy in the 2nd quarter valued at about $26,000. CWM LLC lifted its position in shares of PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after buying an additional 569 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy during the third quarter valued at approximately $59,000. EverSource Wealth Advisors LLC grew its stake in PBF Energy by 152.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,252 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $53.00 to $40.00 in a research report on Wednesday, October 2nd. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Finally, TD Cowen dropped their price objective on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, PBF Energy has an average rating of “Hold” and a consensus price target of $34.18.

PBF Energy Trading Down 0.5 %

Shares of PBF stock opened at $31.99 on Monday. The company has a market capitalization of $3.68 billion, a PE ratio of -12.35 and a beta of 1.56. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88. The business’s fifty day moving average is $31.57 and its 200 day moving average is $37.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the business earned $6.61 EPS. The business’s revenue was down 21.9% on a year-over-year basis. On average, equities research analysts anticipate that PBF Energy Inc. will post -2.79 EPS 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. Shareholders of record on Wednesday, November 13th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -42.47%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 510,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $33.18 per share, for a total transaction of $16,921,800.00. Following the acquisition, the insider now owns 19,129,598 shares of the company’s stock, valued at $634,720,061.64. This trade represents a 2.74 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 4,592,400 shares of company stock valued at $145,300,797 in the last quarter. Insiders own 5.30% of the company’s stock.

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.