Bank of New York Mellon Corp Sells 398,430 Shares of PBF Energy Inc. (NYSE:PBF)

Bank of New York Mellon Corp decreased its position in shares of PBF Energy Inc. (NYSE:PBF) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,861,263 shares of the oil and gas company’s stock after selling 398,430 shares during the quarter. Bank of New York Mellon Corp owned about 1.62% of PBF Energy worth $49,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PBF. Van ECK Associates Corp lifted its stake in shares of PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after purchasing an additional 392,776 shares during the period. Neo Ivy Capital Management acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $2,404,000. Intech Investment Management LLC lifted its stake in shares of PBF Energy by 165.9% in the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after purchasing an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares during the period. Finally, Bridgewater Associates LP lifted its stake in shares of PBF Energy by 40.5% in the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after purchasing an additional 26,952 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Trading Down 2.1 %

Shares of PBF stock opened at $20.14 on Thursday. PBF Energy Inc. has a 52-week low of $18.97 and a 52-week high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company has a 50-day simple moving average of $26.73 and a two-hundred day simple moving average of $29.75. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.60.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Thursday, February 27th. PBF Energy’s dividend payout ratio is presently -23.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PBF. UBS Group dropped their price objective on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Wells Fargo & Company decreased their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, The Goldman Sachs Group decreased their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus target price of $29.55.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $25.56 per share, for a total transaction of $1,789,200.00. Following the completion of the transaction, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This trade represents a 0.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 1,062,500 shares of company stock worth $28,442,290 over the last ninety days. Company 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.