SG Americas Securities LLC Reduces Stock Position in PBF Energy Inc. (NYSE:PBF)

SG Americas Securities LLC lowered its stake in shares of PBF Energy Inc. (NYSE:PBF) by 86.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,648 shares of the oil and gas company’s stock after selling 22,535 shares during the period. SG Americas Securities LLC’s holdings in PBF Energy were worth $160,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of PBF Energy by 527.4% during the third quarter. Victory Capital Management Inc. now owns 526,671 shares of the oil and gas company’s stock worth $28,193,000 after acquiring an additional 442,730 shares in the last quarter. Jump Financial LLC raised its position in shares of PBF Energy by 199.3% in the third quarter. Jump Financial LLC now owns 16,281 shares of the oil and gas company’s stock worth $872,000 after buying an additional 10,842 shares in the last quarter. FMR LLC raised its position in shares of PBF Energy by 91.3% in the third quarter. FMR LLC now owns 904,537 shares of the oil and gas company’s stock worth $48,420,000 after buying an additional 431,801 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of PBF Energy in the third quarter worth $277,000. Finally, LSV Asset Management raised its position in shares of PBF Energy by 89.4% in the third quarter. LSV Asset Management now owns 1,058,504 shares of the oil and gas company’s stock worth $56,662,000 after buying an additional 499,505 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Down 1.9 %

NYSE PBF opened at $58.60 on Tuesday. The stock’s 50-day simple moving average is $53.50 and its two-hundred day simple moving average is $48.20. PBF Energy Inc. has a twelve month low of $31.25 and a twelve month high of $62.88. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 3.56 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same period last year, the business posted $4.41 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. Research analysts forecast that PBF Energy Inc. will post 6.1 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. PBF Energy’s dividend payout ratio (DPR) is currently 6.08%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. StockNews.com downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. TD Cowen increased their price objective on PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Mizuho downgraded PBF Energy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Finally, Piper Sandler increased their price objective on PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.55.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 12,200 shares of PBF Energy stock in a transaction dated Wednesday, January 24th. The shares were purchased at an average cost of $43.86 per share, with a total value of $535,092.00. Following the completion of the purchase, the insider now owns 14,345,198 shares of the company’s stock, valued at $629,180,384.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital bought 12,200 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the completion of the purchase, the insider now directly owns 14,345,198 shares of the company’s stock, valued at $629,180,384.28. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 180,000 shares of company stock valued at $10,074,600. 6.20% of the stock is currently owned by 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.