PBF Energy Inc. (NYSE:PBF) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 49.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,728 shares of the oil and gas company’s stock after selling 1,686 shares during the period. PNC Financial Services Group Inc.’s holdings in PBF Energy were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,056 shares during the last quarter. Quarry LP purchased a new stake in PBF Energy during the 3rd quarter valued at about $48,000. Golden State Wealth Management LLC acquired a new position in shares of PBF Energy in the fourth quarter valued at about $61,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of PBF Energy in the fourth quarter worth about $68,000. Finally, Spire Wealth Management lifted its holdings in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 585 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Trading Up 0.8 %

Shares of PBF opened at $19.36 on Thursday. The firm has a 50-day moving average price of $24.74 and a 200 day moving average price of $28.39. The firm has a market capitalization of $2.23 billion, a P/E ratio of -4.11 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 12-month low of $18.97 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is -23.35%.

Wall Street Analyst Weigh In

PBF has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Wells Fargo & Company lowered their price target on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Morgan Stanley reduced their price objective on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Finally, Piper Sandler lowered their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $27.36.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average price of $29.60 per share, for a total transaction of $2,960,000.00. Following the acquisition, the insider now owns 29,084,998 shares of the company’s stock, valued at $860,915,940.80. This represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 651,000 shares of company stock worth $17,480,400. 5.30% of the stock is currently owned by insiders.

About PBF Energy

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.