Vanguard Group Inc. Cuts Stock Holdings in PBF Energy Inc. $PBF

Vanguard Group Inc. reduced its stake in PBF Energy Inc. (NYSE:PBF) by 4.2% during the third quarter, HoldingsChannel.com reports. The fund owned 8,782,932 shares of the oil and gas company’s stock after selling 381,455 shares during the quarter. Vanguard Group Inc. owned about 0.08% of PBF Energy worth $264,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake 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 acquiring an additional 440 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 912 shares in the last quarter. Quent Capital LLC bought a new position in shares of PBF Energy during the 3rd quarter valued at approximately $41,000. Finally, SBI Securities Co. Ltd. grew its holdings 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 purchasing an additional 818 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

PBF Energy stock opened at $35.53 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $41.47. The firm has a market capitalization of $4.15 billion, a P/E ratio of -24.17, a price-to-earnings-growth ratio of 4.78 and a beta of 0.50. The company’s 50-day moving average is $31.84 and its 200 day moving average is $31.21.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.82) earnings per share. Research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm 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 dividend of $0.275 per share. The ex-dividend date is Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.1%. PBF Energy’s payout ratio is presently -74.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PBF shares. Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating and set a $34.00 price objective on shares of PBF Energy in a research note on Monday, January 5th. Citigroup upped their price objective on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $31.00 to $38.00 in a report on Friday, December 12th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, PBF Energy has a consensus rating of “Reduce” and an average target price of $30.21.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 480,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $35.07, for a total value of $16,833,600.00. Following the sale, the insider owned 29,583,498 shares in the company, valued at $1,037,493,274.86. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 2,635,879 shares of company stock valued at $91,446,680. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Company 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.