PBF Energy Inc. (NYSE:PBF) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in PBF Energy Inc. (NYSE:PBF) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,992,056 shares of the oil and gas company’s stock after selling 572,848 shares during the period. Vanguard Group Inc. owned 8.68% of PBF Energy worth $265,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LPL Financial LLC raised its holdings in PBF Energy by 3.2% during the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company’s stock worth $632,000 after purchasing an additional 748 shares in the last quarter. Fox Run Management L.L.C. increased its position in shares of PBF Energy by 14.6% during the 4th quarter. Fox Run Management L.L.C. now owns 56,264 shares of the oil and gas company’s stock valued at $1,494,000 after purchasing an additional 7,171 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of PBF Energy in the 4th quarter worth $1,187,000. American Century Companies Inc. lifted its holdings in shares of PBF Energy by 11.2% in the fourth quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock valued at $49,532,000 after buying an additional 187,351 shares during the period. Finally, Semanteon Capital Management LP bought a new position in PBF Energy during the fourth quarter valued at about $1,045,000. 96.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PBF has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group cut their target price on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Mizuho decreased their price target on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company dropped their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley reduced their price objective on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and a consensus target price of $25.55.

PBF Energy Stock Down 10.4 %

NYSE:PBF opened at $14.97 on Friday. The business’s fifty day moving average price is $23.04 and its 200 day moving average price is $27.75. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.18 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 1-year low of $14.11 and a 1-year high of $62.88.

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 during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

Insider Activity

In other news, insider Control Empresarial De Capital purchased 20,000 shares of PBF Energy stock in a transaction dated Friday, March 28th. The stock was acquired at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the acquisition, the insider now directly owns 30,534,998 shares in the company, valued at $582,913,111.82. This represents a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 671,000 shares of company stock worth $17,862,200 in the last ninety days. Corporate insiders own 6.70% of the company’s stock.

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.