Amalgamated Bank Sells 2,305 Shares of PBF Energy Inc. (NYSE:PBF)

Amalgamated Bank decreased its position in PBF Energy Inc. (NYSE:PBF) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,348 shares of the oil and gas company’s stock after selling 2,305 shares during the period. Amalgamated Bank’s holdings in PBF Energy were worth $828,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in PBF Energy in the 4th quarter worth approximately $299,000. Charles Schwab Investment Management Inc. grew its stake in shares of PBF Energy by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company’s stock worth $39,634,000 after acquiring an additional 78,045 shares during the period. Raymond James Financial Inc. purchased a new position in shares of PBF Energy during the fourth quarter valued at approximately $1,654,000. Callan Family Office LLC bought a new position in PBF Energy during the fourth quarter valued at approximately $219,000. Finally, Wealthfront Advisers LLC purchased a new stake in PBF Energy in the fourth quarter worth approximately $4,515,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group raised PBF Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Piper Sandler lowered their target price on PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 2nd. Scotiabank dropped their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Mizuho upped their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Tuesday, May 13th. 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.18.

PBF Energy Trading Up 1.6%

PBF stock opened at $25.92 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52. PBF Energy Inc. has a 1-year low of $13.62 and a 1-year high of $42.64. The business has a 50 day simple moving average of $21.10 and a two-hundred day simple moving average of $22.20. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -2.85 and a beta of 0.84.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The business’s quarterly revenue was down 18.3% compared to the same quarter last year. Research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Thursday, May 15th. PBF Energy’s payout ratio is presently -12.09%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $17.99 per share, with a total value of $872,515.00. Following the completion of the purchase, the insider directly owned 30,823,498 shares of the company’s stock, valued at $554,514,729.02. The trade was a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

PBF Energy Company 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.