PBF Energy Inc. $PBF Position Trimmed by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its stake in PBF Energy Inc. (NYSE:PBF) by 15.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,513 shares of the oil and gas company’s stock after selling 27,541 shares during the quarter. Edgestream Partners L.P. owned 0.13% of PBF Energy worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in PBF Energy in the 2nd quarter valued at approximately $24,599,000. Hsbc Holdings PLC grew its holdings in shares of PBF Energy by 11.1% during the 2nd quarter. Hsbc Holdings PLC now owns 138,864 shares of the oil and gas company’s stock valued at $3,031,000 after acquiring an additional 13,876 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of PBF Energy in the second quarter worth $716,000. Prudential Financial Inc. increased its stake in shares of PBF Energy by 66.8% in the second quarter. Prudential Financial Inc. now owns 215,459 shares of the oil and gas company’s stock worth $4,669,000 after acquiring an additional 86,275 shares during the last quarter. Finally, Private Management Group Inc. raised its holdings in shares of PBF Energy by 6.9% during the second quarter. Private Management Group Inc. now owns 1,174,201 shares of the oil and gas company’s stock worth $25,445,000 after acquiring an additional 75,546 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Down 2.3%

Shares of PBF stock opened at $33.76 on Thursday. The stock’s 50 day simple moving average is $33.34 and its 200 day simple moving average is $27.34. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $41.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -7.26 and a beta of 0.42.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter last year, the company posted ($1.50) earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is -23.66%.

Analyst Ratings Changes

A number of research analysts have commented on PBF shares. Bank of America boosted their target price on PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research note on Wednesday, September 3rd. Piper Sandler boosted their price target on PBF Energy from $29.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, November 14th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a report on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday. Finally, The Goldman Sachs Group boosted their target price on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, PBF Energy presently has an average rating of “Strong Sell” and a consensus price target of $28.92.

Insider Activity

In other PBF Energy news, CAO Steven John Andriola sold 1,048 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total transaction of $36,040.72. Following the completion of the transaction, the chief accounting officer owned 20,974 shares of the company’s stock, valued at $721,295.86. The trade was a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Connor Thomas L. O sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total value of $2,041,500.00. Following the completion of the sale, the senior vice president directly owned 205,340 shares in the company, valued at approximately $8,384,032.20. This represents a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 507,045 shares of company stock worth $18,193,421. Insiders own 5.30% of the company’s stock.

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.