JPMorgan Chase & Co. Lowers Stock Position in PBF Energy Inc. $PBF

JPMorgan Chase & Co. lessened its position in shares of PBF Energy Inc. (NYSE:PBF) by 46.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 551,849 shares of the oil and gas company’s stock after selling 482,748 shares during the quarter. JPMorgan Chase & Co.’s holdings in PBF Energy were worth $16,649,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 589 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the period. Hantz Financial Services Inc. boosted its position in PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares in the last quarter. Quent Capital LLC acquired a new stake in PBF Energy in the third quarter valued at approximately $41,000. Finally, SBI Securities Co. Ltd. increased its position in shares of PBF Energy by 66.2% in the second quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 818 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PBF. Wolfe Research lowered PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Piper Sandler upped their price target on shares of PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and raised their price target for the company from $31.00 to $38.00 in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $30.21.

PBF Energy Price Performance

Shares of NYSE PBF opened at $39.65 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $32.37 and a 200-day simple moving average of $31.50. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -26.97, a price-to-earnings-growth ratio of 5.28 and a beta of 0.41. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $41.47.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted ($2.82) earnings per share. On average, equities analysts predict that PBF Energy Inc. will post -1.12 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 Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. PBF Energy’s dividend payout ratio is currently -74.83%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 250,000 shares of PBF Energy stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $34.91, for a total transaction of $8,727,500.00. Following the transaction, the insider directly owned 27,591,198 shares of the company’s stock, valued at $963,208,722.18. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,635,879 shares of company stock worth $91,446,680 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.