Bank of New York Mellon Corp Sells 41,747 Shares of PBF Energy Inc. $PBF

Bank of New York Mellon Corp cut its holdings in PBF Energy Inc. (NYSE:PBF) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,172,094 shares of the oil and gas company’s stock after selling 41,747 shares during the quarter. Bank of New York Mellon Corp owned 1.00% of PBF Energy worth $55,815,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PBF Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after purchasing an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after purchasing an additional 12,289 shares during the period. Acadian Asset Management LLC grew its position in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PBF Energy during the 2nd quarter valued at $1,143,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Down 3.9%

Shares of PBF stock opened at $61.83 on Friday. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $68.33. The firm has a fifty day moving average price of $46.28 and a 200-day moving average price of $41.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.15 and a beta of 0.11.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter last year, the company earned ($3.53) earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts predict that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. PBF Energy’s dividend payout ratio (DPR) is 29.65%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PBF shares. Mizuho raised their price target on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Freedom Capital upgraded PBF Energy to a “hold” rating in a research report on Tuesday, July 7th. BMO Capital Markets increased their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. TD Cowen raised their target price on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Evercore initiated coverage on PBF Energy in a research note on Friday, July 17th. They set an “in-line” rating and a $58.00 price target for the company. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $43.92.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. The trade was a 3.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 3,541,570 shares of company stock valued at $165,787,386 over the last 90 days. 5.50% of the stock is owned by company insiders.

PBF Energy Company 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.