Vanguard Group Inc. Decreases Stock Holdings in PBF Energy Inc. $PBF

Vanguard Group Inc. lowered its stake in PBF Energy Inc. (NYSE:PBF) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,782,932 shares of the oil and gas company’s stock after selling 381,455 shares during the quarter. Vanguard Group Inc. owned 7.59% of PBF Energy worth $264,981,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PBF. Royal Bank of Canada boosted its stake in shares of PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after buying an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 boosted its position in PBF Energy by 4.9% in the first 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 last quarter. Acadian Asset Management LLC grew its stake in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,354 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of PBF Energy by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,220 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 527 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $34.91, for a total value of $8,727,500.00. Following the completion of the transaction, the insider directly owned 27,591,198 shares in the company, valued at $963,208,722.18. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 2,635,879 shares of company stock worth $91,446,680. 5.30% of the stock is currently owned by company insiders.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $35.53 on Friday. The stock has a market cap of $4.15 billion, a PE ratio of -24.17, a price-to-earnings-growth ratio of 4.78 and a beta of 0.50. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $41.47. The firm has a fifty day moving average price of $31.84 and a 200-day moving average price of $31.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51.

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

PBF Energy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PBF shares. BMO Capital Markets reissued a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a report on Monday, January 5th. Piper Sandler lifted their price target 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. Zacks Research raised shares of PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Finally, Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, PBF Energy has an average rating of “Reduce” and a consensus price target of $30.21.

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.