Citigroup Inc. Sells 26,861 Shares of PBF Energy Inc. $PBF

Citigroup Inc. lowered its position in PBF Energy Inc. (NYSE:PBF) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 318,761 shares of the oil and gas company’s stock after selling 26,861 shares during the quarter. Citigroup Inc. owned 0.28% of PBF Energy worth $9,617,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. AMG National Trust Bank boosted its position in shares of PBF Energy by 0.5% during the 3rd quarter. AMG National Trust Bank now owns 100,875 shares of the oil and gas company’s stock valued at $3,043,000 after acquiring an additional 528 shares in the last quarter. Merit Financial Group LLC boosted its holdings in PBF Energy by 3.0% during the third quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 276 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of PBF Energy by 9.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,894 shares of the oil and gas company’s stock valued at $208,000 after purchasing an additional 617 shares during the period. Cidel Asset Management Inc. acquired a new position in shares of PBF Energy in the 3rd quarter worth approximately $250,000. Finally, Assetmark Inc. lifted its position in shares of PBF Energy by 1.5% during the 3rd quarter. Assetmark Inc. now owns 59,970 shares of the oil and gas company’s stock worth $1,809,000 after buying an additional 884 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 480,000 shares of PBF Energy stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $35.07, for a total transaction of $16,833,600.00. Following the completion of the sale, the insider owned 29,583,498 shares of the company’s stock, valued at approximately $1,037,493,274.86. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,635,879 shares of company stock valued at $91,446,680 over the last quarter. 6.70% of the stock is currently owned by company insiders.

PBF Energy Stock Down 1.5%

NYSE PBF opened at $35.53 on Monday. The stock has a market capitalization of $4.15 billion, a P/E ratio of -24.17, a price-to-earnings-growth ratio of 4.78 and a beta of 0.41. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $41.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The stock has a fifty day moving average of $31.84 and a 200-day moving average of $31.27.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned ($2.82) earnings per share. On average, equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s payout ratio is -74.83%.

Analysts Set New Price Targets

PBF has been the subject of a number of analyst reports. Citigroup lifted their price objective on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Piper Sandler upped their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. UBS Group raised their price objective on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Mizuho upgraded shares of PBF Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $38.00 in a research note on Friday, December 12th. Finally, Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of “Reduce” and a consensus price target of $30.21.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.