The Manufacturers Life Insurance Company Decreases Position in PBF Energy Inc. (NYSE:PBF)

The Manufacturers Life Insurance Company decreased its position in PBF Energy Inc. (NYSE:PBF) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,995 shares of the oil and gas company’s stock after selling 8,825 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of PBF Energy worth $3,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Leavell Investment Management Inc. lifted its holdings in shares of PBF Energy by 3.0% in the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after buying an additional 460 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after purchasing an additional 485 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in PBF Energy by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 543 shares during the period. Highland Capital Management LLC grew its position in shares of PBF Energy by 14.2% during the 2nd quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock valued at $202,000 after purchasing an additional 546 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of PBF Energy in the second quarter worth $26,000. 96.29% of the stock is owned by institutional investors.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 287,100 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of $31.91 per share, for a total transaction of $9,161,361.00. Following the transaction, the insider now directly owns 24,751,498 shares of the company’s stock, valued at approximately $789,820,301.18. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired 4,238,100 shares of company stock worth $132,147,631 over the last three months. Company insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

PBF stock opened at $30.22 on Friday. PBF Energy Inc. has a one year low of $27.94 and a one year high of $62.88. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -11.67 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. The firm has a 50-day simple moving average of $31.44 and a two-hundred day simple moving average of $36.56.

PBF Energy (NYSE:PBF) last issued 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). The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s revenue was down 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $6.61 EPS. On average, equities analysts forecast that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced 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 represents a $1.10 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PBF shares. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Mizuho dropped their price objective on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, November 4th. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. UBS Group lowered their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.18.

About PBF Energy

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.