PBF Energy Inc. (NYSE:PBF) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in PBF Energy Inc. (NYSE:PBF) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,868 shares of the oil and gas company’s stock after selling 4,487 shares during the period. Wellington Management Group LLP’s holdings in PBF Energy were worth $9,405,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in PBF Energy in the 2nd quarter worth about $26,000. Quarry LP purchased a new position in shares of PBF Energy during the 3rd quarter worth about $48,000. CWM LLC boosted its position in shares of PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy in the third quarter valued at approximately $59,000. Finally, Blue Trust Inc. grew its holdings in PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PBF shares. Morgan Stanley dropped their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Scotiabank dropped their price target on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $39.00 to $34.00 in a research report on Monday, December 9th. Finally, Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus target price of $33.27.

PBF Energy Price Performance

Shares of PBF stock opened at $29.26 on Monday. The firm has a fifty day simple moving average of $31.25 and a 200-day simple moving average of $35.82. PBF Energy Inc. has a twelve month low of $27.94 and a twelve month high of $62.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.61 EPS. Equities analysts expect that PBF Energy Inc. will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital acquired 1,000,000 shares of PBF Energy stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $31.75 per share, for a total transaction of $31,750,000.00. Following the purchase, the insider now directly owns 24,462,398 shares of the company’s stock, valued at $776,681,136.50. The trade was a 4.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 3,568,100 shares of company stock worth $111,183,331 in the last three months. 5.30% of the stock is 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.