Dimensional Fund Advisors LP Sells 1,318,286 Shares of PBF Energy Inc. $PBF

Dimensional Fund Advisors LP lowered its stake in PBF Energy Inc. (NYSE:PBF) by 23.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,276,060 shares of the oil and gas company’s stock after selling 1,318,286 shares during the quarter. Dimensional Fund Advisors LP owned about 3.69% of PBF Energy worth $129,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its holdings in PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after purchasing an additional 1,454,500 shares during the last quarter. Norges Bank bought a new position in PBF Energy during the second quarter worth about $24,599,000. BNP Paribas Financial Markets boosted its holdings in PBF Energy by 276.2% during the second quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock worth $22,294,000 after buying an additional 755,310 shares during the last quarter. Aegis Financial Corp acquired a new position in shares of PBF Energy during the 2nd quarter worth about $13,445,000. Finally, JPMorgan Chase & Co. grew its position in shares of PBF Energy by 133.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock worth $22,420,000 after buying an additional 591,975 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PBF has been the topic of a number of analyst reports. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target on the stock. in a research report on Monday, December 8th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Piper Sandler upped their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Mizuho raised shares of PBF Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $31.00 to $38.00 in a research report on Friday, December 12th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $34.00 price target on shares of PBF Energy in a report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, PBF Energy has an average rating of “Reduce” and an average target price of $30.31.

PBF Energy Price Performance

Shares of PBF opened at $41.98 on Thursday. The stock has a 50 day simple moving average of $34.26 and a 200 day simple moving average of $32.23. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $47.18. 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 firm has a market capitalization of $4.91 billion, a PE ratio of -28.56, a P/E/G ratio of 4.22 and a beta of 0.41.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.82) earnings per share. Sell-side analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a yield of 2.6%. PBF Energy’s dividend payout ratio is presently -74.83%.

Insider Transactions at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 200,000 shares of PBF Energy stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $40.07, for a total value of $8,014,000.00. Following the sale, the director owned 790,716 shares of the company’s stock, valued at $31,683,990.12. This trade represents a 20.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Control Empresarial De Capital sold 903,100 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.62, for a total value of $38,490,122.00. Following the completion of the sale, the insider owned 26,469,098 shares in the company, valued at approximately $1,128,112,956.76. This trade represents a 3.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 4,212,979 shares of company stock valued at $158,329,922. Corporate insiders own 5.30% of the company’s stock.

About PBF Energy

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.