PBF Energy Inc. (NYSE:PBF) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of PBF Energy Inc. (NYSE:PBF) by 56.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,442 shares of the oil and gas company’s stock after selling 18,680 shares during the quarter. HighTower Advisors LLC’s holdings in PBF Energy were worth $447,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PBF. National Bank of Canada FI acquired a new position in shares of PBF Energy in the 2nd quarter worth approximately $26,000. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy in the 3rd quarter worth approximately $59,000. Blue Trust Inc. raised its holdings in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,027 shares in the last quarter. Farther Finance Advisors LLC lifted its position in PBF Energy by 27.9% in the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 573 shares during the period. Finally, Covestor Ltd boosted its stake in PBF Energy by 64.6% during the 3rd quarter. Covestor Ltd now owns 2,780 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 1,091 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America initiated coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price for the company. Morgan Stanley cut their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $47.00 to $25.00 in a research report on Friday, September 20th. The Goldman Sachs Group cut their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, PBF Energy has an average rating of “Hold” and a consensus price target of $32.45.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 341,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $26.86 per share, with a total value of $9,172,690.00. Following the completion of the purchase, the insider now owns 28,814,998 shares of the company’s stock, valued at $773,970,846.28. This represents a 1.20 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired 3,659,600 shares of company stock valued at $112,411,021 in the last three months. 5.30% of the stock is owned by corporate insiders.

PBF Energy Stock Down 1.2 %

Shares of PBF stock opened at $25.15 on Friday. The stock has a 50 day moving average of $30.63 and a 200-day moving average of $35.23. The firm has a market cap of $2.90 billion, a PE ratio of -9.71 and a beta of 1.57. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a 12 month low of $24.21 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS 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 firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $6.61 EPS. The company’s revenue was down 21.9% on a year-over-year basis. On average, equities analysts predict that PBF Energy Inc. will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.275 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 4.37%. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

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.