PBF Energy Inc. (NYSE:PBF) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its position in PBF Energy Inc. (NYSE:PBF) by 85.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,623 shares of the oil and gas company’s stock after selling 195,702 shares during the quarter. Empowered Funds LLC’s holdings in PBF Energy were worth $1,010,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PBF. Janus Henderson Group PLC boosted its position in shares of PBF Energy by 957.8% in the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after purchasing an additional 547,509 shares during the period. Hsbc Holdings PLC boosted its position in shares of PBF Energy by 246.5% in the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after purchasing an additional 355,329 shares during the period. Acadian Asset Management LLC boosted its position in shares of PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of PBF Energy by 59.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 581,045 shares of the oil and gas company’s stock valued at $33,451,000 after purchasing an additional 215,689 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in PBF Energy by 346.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 262,600 shares of the oil and gas company’s stock worth $12,085,000 after acquiring an additional 203,800 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital purchased 100,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $31.28 per share, with a total value of $3,128,000.00. Following the completion of the transaction, the insider now owns 26,532,498 shares of the company’s stock, valued at approximately $829,936,537.44. This represents a 0.38 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 4,592,400 shares of company stock valued at $145,300,797. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF opened at $31.99 on Friday. PBF Energy Inc. has a 1-year low of $27.94 and a 1-year high of $62.88. The company has a market capitalization of $3.68 billion, a P/E ratio of -12.35 and a beta of 1.56. The business has a 50 day moving average price of $31.57 and a 200 day moving average price of $37.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the business earned $6.61 earnings per share. The business’s revenue for the quarter was down 21.9% on a year-over-year basis. Sell-side analysts expect that PBF Energy Inc. will post -2.79 EPS for the current fiscal year.

PBF Energy Increases Dividend

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

Analysts Set New Price Targets

PBF has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Scotiabank decreased their price objective on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Bank of America initiated coverage on PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective for the company. Wells Fargo & Company decreased their price objective on PBF Energy from $51.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $25.00 in a research report on Friday, September 20th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.18.

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.