Franklin Resources Inc. Has $1.28 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Franklin Resources Inc. trimmed its holdings in PBF Energy Inc. (NYSE:PBF) by 63.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,110 shares of the oil and gas company’s stock after selling 69,029 shares during the period. Franklin Resources Inc.’s holdings in PBF Energy were worth $1,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Tidal Investments LLC bought a new position in shares of PBF Energy during the third quarter worth approximately $1,642,000. Neo Ivy Capital Management bought a new stake in PBF Energy in the 3rd quarter valued at about $2,404,000. Vestcor Inc raised its position in shares of PBF Energy by 1,513.2% in the third quarter. Vestcor Inc now owns 14,712 shares of the oil and gas company’s stock valued at $455,000 after buying an additional 13,800 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in PBF Energy by 108.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company’s stock valued at $1,359,000 after acquiring an additional 22,852 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in PBF Energy in the third quarter valued at about $1,415,000. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Down 1.2 %

PBF stock opened at $25.40 on Friday. The stock has a fifty day moving average of $29.91 and a 200-day moving average of $34.59. PBF Energy Inc. has a fifty-two week low of $24.21 and a fifty-two week high of $62.88. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -9.81 and a beta of 1.57. 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 posted its earnings results 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). The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.61 EPS. As a group, equities research analysts predict that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 annualized dividend and a dividend yield of 4.33%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is currently -42.47%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 341,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $26.86 per share, with a total value of $9,172,690.00. Following the purchase, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. This represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 3,354,600 shares of company stock valued at $102,728,271 over the last three months. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PBF. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Wells Fargo & Company cut PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Finally, Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Seven analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $32.45.

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.