Ameriprise Financial Inc. Sells 8,458 Shares of PBF Energy Inc. (NYSE:PBF)

Ameriprise Financial Inc. reduced its position in shares of PBF Energy Inc. (NYSE:PBF) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 578,485 shares of the oil and gas company’s stock after selling 8,458 shares during the quarter. Ameriprise Financial Inc. owned 0.50% of PBF Energy worth $15,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Voleon Capital Management LP bought a new stake in PBF Energy during the 4th quarter valued at about $658,000. AQR Capital Management LLC boosted its holdings in shares of PBF Energy by 27.4% during the 4th quarter. AQR Capital Management LLC now owns 654,093 shares of the oil and gas company’s stock valued at $17,144,000 after acquiring an additional 140,804 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of PBF Energy by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,378,956 shares of the oil and gas company’s stock valued at $36,611,000 after acquiring an additional 50,541 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter valued at about $2,344,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of PBF Energy during the 4th quarter valued at about $3,753,000. 96.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 155,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $20.20 per share, with a total value of $3,131,000.00. Following the completion of the acquisition, the insider now owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 331,000 shares of company stock valued at $6,075,180 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $22.35 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy Inc. has a 1-year low of $13.62 and a 1-year high of $51.47. The company has a market capitalization of $2.58 billion, a P/E ratio of -4.74 and a beta of 0.76. The firm’s 50 day simple moving average is $18.15 and its two-hundred day simple moving average is $24.44.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.92%. The ex-dividend date is Thursday, May 15th. PBF Energy’s dividend payout ratio is currently -12.09%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price target on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Piper Sandler dropped their price target on shares of PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 2nd. UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of PBF Energy from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their price objective on shares of PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.91.

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.