PBF Energy Inc. (NYSE:PBF) Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its stake in PBF Energy Inc. (NYSE:PBF) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,931 shares of the oil and gas company’s stock after selling 1,692 shares during the period. Empowered Funds LLC’s holdings in PBF Energy were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. Fortitude Family Office LLC increased its position in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares during the period. Quarry LP purchased a new position in shares of PBF Energy during the third quarter worth approximately $48,000. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy in the 3rd quarter valued at $59,000. Golden State Wealth Management LLC purchased a new stake in PBF Energy in the 4th quarter valued at $61,000. Finally, Blue Trust Inc. raised its position in PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $23.24 on Tuesday. The firm’s fifty day simple moving average is $28.14 and its 200-day simple moving average is $31.02. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.67 billion, a PE ratio of -8.97 and a beta of 1.60. PBF Energy Inc. has a fifty-two week low of $22.03 and a fifty-two week 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 the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. Analysts expect that PBF Energy Inc. will post -3.75 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 4.73%. PBF Energy’s dividend payout ratio is presently -42.47%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 150,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was bought at an average price of $28.70 per share, for a total transaction of $4,305,000.00. Following the completion of the transaction, the insider now owns 29,505,998 shares in the company, valued at approximately $846,822,142.60. The trade was a 0.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have bought 1,868,500 shares of company stock worth $55,348,810. 5.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PBF. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Wells Fargo & Company dropped their price target on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.18.

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.