Federated Hermes Inc. Sells 35,236 Shares of PBF Energy Inc. (NYSE:PBF)

Federated Hermes Inc. reduced its stake in PBF Energy Inc. (NYSE:PBF) by 10.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 295,101 shares of the oil and gas company’s stock after selling 35,236 shares during the quarter. Federated Hermes Inc.’s holdings in PBF Energy were worth $12,973,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its stake in PBF Energy by 84.5% in the 3rd quarter. Assetmark Inc. now owns 1,410,260 shares of the oil and gas company’s stock worth $75,491,000 after buying an additional 645,976 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in PBF Energy by 26.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,093 shares of the oil and gas company’s stock worth $75,001,000 after buying an additional 291,284 shares in the last quarter. LSV Asset Management increased its stake in PBF Energy by 89.4% in the 3rd 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. Acadian Asset Management LLC increased its stake in PBF Energy by 1,112.3% in the 3rd quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock worth $51,718,000 after buying an additional 886,617 shares in the last quarter. Finally, FMR LLC increased its stake in PBF Energy by 91.3% in the 3rd 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. 96.29% of the stock is owned by institutional investors.

Insider Activity at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction dated 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 $8,829,813.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,000 shares of company stock valued at $10,074,600. Insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

PBF has been the subject of a number of analyst reports. Mizuho lowered PBF Energy from a “buy” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. Scotiabank raised their price objective on PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Citigroup started coverage on PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. Piper Sandler raised their price objective on PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their price objective on PBF Energy from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. 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 company presently has an average rating of “Hold” and a consensus price target of $57.55.

PBF Energy Stock Up 1.5 %

Shares of NYSE:PBF opened at $57.40 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. PBF Energy Inc. has a 12 month low of $31.25 and a 12 month high of $62.88. The company has a 50-day moving average price of $54.02 and a 200 day moving average price of $48.54. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 3.49 and a beta of 1.73.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) 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 business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. During the same period in the previous year, the business posted $4.41 EPS. The firm’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts predict that PBF Energy Inc. will post 7.21 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s payout ratio is 6.08%.

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.