Victory Capital Management Inc. Sells 11,346 Shares of PBF Energy Inc. (NYSE:PBF)

Victory Capital Management Inc. lessened its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 14.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,810 shares of the oil and gas company’s stock after selling 11,346 shares during the period. Victory Capital Management Inc.’s holdings in PBF Energy were worth $2,037,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PBF. GSA Capital Partners LLP grew its holdings in PBF Energy by 76.8% in the third quarter. GSA Capital Partners LLP now owns 44,618 shares of the oil and gas company’s stock worth $1,381,000 after purchasing an additional 19,375 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after buying an additional 18,173 shares during the last quarter. Covestor Ltd increased its position in PBF Energy by 64.6% during the 3rd quarter. Covestor Ltd now owns 2,780 shares of the oil and gas company’s stock valued at $86,000 after buying an additional 1,091 shares in the last quarter. Verdence Capital Advisors LLC increased its position in PBF Energy by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 543 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its stake in PBF Energy by 3.0% during the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 460 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Performance

PBF opened at $31.99 on Monday. The company’s 50 day moving average is $31.57 and its 200 day moving average is $37.72. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -12.35 and a beta of 1.56. PBF Energy Inc. has a 12-month low of $27.94 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period last year, the business earned $6.61 earnings per share. On average, equities research analysts predict that PBF Energy Inc. will post -2.79 EPS for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PBF. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. UBS Group reduced their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company dropped their target price on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Finally, Morgan Stanley lowered their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.18.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 1,000,000 shares of PBF Energy stock in a transaction on Tuesday, October 15th. The shares were acquired at an average price of $31.75 per share, for a total transaction of $31,750,000.00. Following the completion of the purchase, the insider now directly owns 24,462,398 shares in the company, valued at approximately $776,681,136.50. This trade represents a 4.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 4,592,400 shares of company stock valued at $145,300,797 in the last quarter. 5.30% of the stock is currently owned by insiders.

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.