Key Financial Inc Sells 2,011 Shares of PBF Energy Inc. $PBF

Key Financial Inc lessened its stake in PBF Energy Inc. (NYSE:PBF) by 17.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,531 shares of the oil and gas company’s stock after selling 2,011 shares during the quarter. Key Financial Inc’s holdings in PBF Energy were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PBF. MassMutual Private Wealth & Trust FSB grew its stake in shares of PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,248 shares during the last quarter. Allworth Financial LP lifted its holdings in PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PBF Energy in the 1st quarter valued at $35,000. Neo Ivy Capital Management bought a new position in PBF Energy in the first quarter valued at about $37,000. Finally, Activest Wealth Management increased its position in PBF Energy by 199,900.0% in the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 1,999 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on PBF shares. Tudor Pickering lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. TD Cowen lifted their price objective on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. Citigroup upped their price objective on PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Wall Street Zen upgraded PBF Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Scotiabank boosted their target price on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $27.83.

Insider Buying and Selling at PBF Energy

In other news, SVP Connor Thomas L. O sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the sale, the senior vice president directly owned 207,984 shares in the company, valued at $7,071,456. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Nimbley sold 250,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total value of $8,627,500.00. Following the transaction, the director directly owned 790,716 shares of the company’s stock, valued at $27,287,609.16. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 330,000 shares of company stock valued at $11,354,000 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

PBF Energy Price Performance

NYSE PBF opened at $35.30 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $36.67. The business has a 50 day simple moving average of $30.25 and a 200 day simple moving average of $24.77. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -7.59 and a beta of 0.79.

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

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio is -23.66%.

PBF Energy Company 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.