US Bancorp DE Sells 1,471 Shares of PBF Energy Inc. (NYSE:PBF)

US Bancorp DE cut its stake in PBF Energy Inc. (NYSE:PBF) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,941 shares of the oil and gas company’s stock after selling 1,471 shares during the quarter. US Bancorp DE’s holdings in PBF Energy were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PBF. Fortitude Family Office LLC grew its stake in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the period. Quarry LP bought a new stake in shares of PBF Energy in the third quarter worth approximately $48,000. Golden State Wealth Management LLC bought a new stake in PBF Energy during the fourth quarter valued at approximately $61,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in PBF Energy during the fourth quarter valued at approximately $68,000. Finally, Spire Wealth Management grew its position in PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 585 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PBF has been the subject of several recent research reports. UBS Group cut their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley cut their target price on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday. The Goldman Sachs Group cut their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average target price of $27.36.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $20.70 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy Inc. has a 1-year low of $18.97 and a 1-year high of $62.88. The company has a market capitalization of $2.39 billion, a P/E ratio of -4.39 and a beta of 1.62. The firm’s 50 day simple moving average is $25.93 and its two-hundred day simple moving average is $29.08.

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

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 46,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $29.70 per share, with a total value of $1,366,200.00. Following the completion of the acquisition, the insider now owns 29,190,998 shares of the company’s stock, valued at $866,972,640.60. This represents a 0.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have purchased 1,062,500 shares of company stock valued at $28,442,290. 5.30% of the stock is currently owned by corporate insiders.

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.