Allspring Global Investments Holdings LLC Has $8.43 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Allspring Global Investments Holdings LLC decreased its position in shares of PBF Energy Inc. (NYSE:PBF) by 25.0% in the 4th quarter, HoldingsChannel reports. The firm owned 191,743 shares of the oil and gas company’s stock after selling 64,004 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PBF Energy were worth $8,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp lifted its position in PBF Energy by 39.8% during the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Fortitude Family Office LLC bought a new stake in PBF Energy during the fourth quarter worth about $44,000. Penserra Capital Management LLC bought a new stake in PBF Energy during the third quarter worth about $87,000. DekaBank Deutsche Girozentrale bought a new stake in PBF Energy during the fourth quarter worth about $73,000. Finally, Headlands Technologies LLC bought a new stake in PBF Energy during the third quarter worth about $101,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $57.27 on Thursday. The company has a market capitalization of $6.85 billion, a PE ratio of 3.48 and a beta of 1.73. The company has a 50 day simple moving average of $53.75 and a two-hundred day simple moving average of $48.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. PBF Energy Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $4.41 EPS. Research analysts anticipate that PBF Energy Inc. will post 6.06 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is 6.08%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 12,200 shares of PBF Energy stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average price of $43.86 per share, with a total value of $535,092.00. Following the transaction, the insider now owns 14,345,198 shares in the company, valued at approximately $629,180,384.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $55.07, for a total value of $2,202,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Control Empresarial De Capital purchased 12,200 shares of PBF Energy stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average cost of $43.86 per share, with a total value of $535,092.00. Following the transaction, the insider now owns 14,345,198 shares in the company, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. Insiders sold a total of 180,000 shares of company stock valued at $10,074,600 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PBF. Scotiabank increased their target price on shares of PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler increased their target price on shares of PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Citigroup began coverage on shares of PBF Energy in a report on Wednesday, January 24th. They issued a “neutral” rating for the company. Mizuho cut shares of PBF Energy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. Finally, TD Cowen increased their target price on shares of PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.55.

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.