American International Group Inc. Cuts Stock Holdings in PBF Energy Inc. (NYSE:PBF)

American International Group Inc. lessened its holdings in PBF Energy Inc. (NYSE:PBFFree Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 201,522 shares of the oil and gas company’s stock after selling 9,389 shares during the period. American International Group Inc. owned about 0.16% of PBF Energy worth $8,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBF. Fortitude Family Office LLC purchased a new stake in PBF Energy during the fourth quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of PBF Energy during the 4th quarter valued at $73,000. Headlands Technologies LLC acquired a new stake in shares of PBF Energy in the 3rd quarter worth $101,000. Quadrant Capital Group LLC grew its stake in PBF Energy by 12.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock worth $114,000 after buying an additional 295 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in PBF Energy during the 3rd quarter worth $208,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Down 2.9 %

PBF Energy stock opened at $46.25 on Friday. The business’s 50-day moving average price is $52.98 and its 200 day moving average price is $49.36. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 3.20 and a beta of 1.63. PBF Energy Inc. has a 52 week low of $38.63 and a 52 week high of $62.88.

PBF Energy (NYSE:PBFGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. The business had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. As a group, sell-side analysts anticipate that PBF Energy Inc. will post 7.19 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s dividend payout ratio is presently 6.92%.

Analysts Set New Price Targets

PBF has been the topic of several recent analyst reports. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $58.00 in a report on Friday, March 22nd. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $74.00 in a research note on Friday, March 15th. Wells Fargo & Company cut their target price on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, TD Cowen dropped their price target on PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.82.

Read Our Latest Research Report on PBF Energy

Insider Buying and Selling

In other news, insider Control Empresarial De Capital bought 200,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the completion of the transaction, the insider now directly owns 14,824,198 shares in the company, valued at approximately $672,573,863.26. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other PBF Energy news, insider Control Empresarial De Capital bought 200,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $45.37 per share, with a total value of $9,074,000.00. Following the completion of the acquisition, the insider now directly owns 14,824,198 shares of the company’s stock, valued at $672,573,863.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,829,813.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,000 shares of company stock worth $10,074,600. Insiders own 5.30% of the company’s stock.

About PBF Energy

(Free Report)

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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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