Citigroup Inc. Sells 112,645 Shares of PBF Energy Inc. (NYSE:PBF)

Citigroup Inc. decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 37.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,558 shares of the oil and gas company’s stock after selling 112,645 shares during the period. Citigroup Inc. owned about 0.14% of PBF Energy worth $8,046,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of PBF Energy during the 1st quarter worth approximately $48,000. IFP Advisors Inc boosted its stake in shares of PBF Energy by 250.0% in the 1st quarter. IFP Advisors Inc now owns 1,057 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 755 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PBF Energy by 57.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 507 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in PBF Energy during the 1st quarter valued at about $76,000. Finally, Spire Wealth Management boosted its position in PBF Energy by 41.0% in the first quarter. Spire Wealth Management now owns 2,207 shares of the oil and gas company’s stock valued at $96,000 after buying an additional 642 shares in the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler boosted their target price on PBF Energy from $58.00 to $62.00 in a report on Friday, August 4th. Mizuho increased their target price on PBF Energy from $45.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $50.00 price target on shares of PBF Energy in a report on Wednesday, July 19th. StockNews.com initiated coverage on shares of PBF Energy in a research report on Sunday, August 20th. They issued a “hold” rating for the company. Finally, Bank of America downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $56.00 in a research note on Tuesday, August 15th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $51.50.

PBF Energy Stock Down 1.2 %

Shares of NYSE PBF opened at $46.91 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $5.80 billion, a PE ratio of 1.95 and a beta of 1.92. The firm’s 50-day moving average is $44.46 and its 200-day moving average is $41.48. PBF Energy Inc. has a 1 year low of $27.00 and a 1 year high of $50.43.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.07. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $8.93 billion. PBF Energy had a net margin of 7.36% and a return on equity of 42.15%. The business’s revenue for the quarter was down 34.9% on a year-over-year basis. During the same period last year, the firm earned $10.58 earnings per share. Equities analysts expect that PBF Energy Inc. will post 10.15 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, August 16th. PBF Energy’s dividend payout ratio (DPR) is currently 3.33%.

PBF Energy Company Profile

PBF Energy Inc, together with 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.