Thrivent Financial for Lutherans Reduces Position in PBF Energy Inc. (NYSE:PBF)

Thrivent Financial for Lutherans trimmed its position in shares of PBF Energy Inc. (NYSE:PBF) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,394 shares of the oil and gas company’s stock after selling 2,102 shares during the period. Thrivent Financial for Lutherans’ holdings in PBF Energy were worth $724,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its position in PBF Energy by 10.2% in the 1st quarter. Tidal Investments LLC now owns 7,820 shares of the oil and gas company’s stock valued at $450,000 after buying an additional 726 shares during the period. Comerica Bank boosted its position in PBF Energy by 13.9% during the first quarter. Comerica Bank now owns 50,951 shares of the oil and gas company’s stock worth $2,933,000 after purchasing an additional 6,219 shares in the last quarter. 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 acquiring an additional 1,252 shares during the period. CWM LLC raised 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 purchasing an additional 569 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its position in shares of PBF Energy by 72.2% in the second quarter. Simplicity Wealth LLC now owns 11,861 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 4,975 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PBF. Tudor, Pickering, Holt & Co. cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Morgan Stanley reduced their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Mizuho reduced their price target on PBF Energy from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Tudor Pickering raised PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $34.18.

PBF Energy Trading Down 2.5 %

Shares of NYSE:PBF opened at $31.88 on Wednesday. PBF Energy Inc. has a 1-year low of $27.94 and a 1-year high of $62.88. The company has a 50 day moving average price of $31.46 and a 200 day moving average price of $36.87. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -12.31 and a beta of 1.57. 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 data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the company posted $6.61 EPS. The company’s quarterly revenue was down 21.9% on a year-over-year basis. On average, research analysts anticipate that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -42.47%.

Insider Activity

In other news, insider Control Empresarial De Capital bought 670,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $31.29 per share, for a total transaction of $20,964,300.00. Following the transaction, the insider now directly owns 22,527,398 shares of the company’s stock, valued at $704,882,283.42. This trade represents a 3.07 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders acquired 4,743,400 shares of company stock worth $149,170,517. 6.20% of the stock is currently owned by corporate insiders.

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.