PBF Energy Inc. (NYSE:PBF) Holdings Cut by Algert Global LLC

Algert Global LLC trimmed its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 76.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,916 shares of the oil and gas company's stock after selling 44,640 shares during the period. Algert Global LLC's holdings in PBF Energy were worth $431,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of PBF Energy by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 189,462 shares of the oil and gas company's stock valued at $10,908,000 after buying an additional 11,683 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of PBF Energy by 720.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company's stock valued at $2,480,000 after purchasing an additional 37,826 shares in the last quarter. Tidal Investments LLC boosted its holdings in PBF Energy by 10.2% during the first quarter. Tidal Investments LLC now owns 7,820 shares of the oil and gas company's stock worth $450,000 after buying an additional 726 shares in the last quarter. Comerica Bank grew its position in PBF Energy by 13.9% during the first quarter. Comerica Bank now owns 50,951 shares of the oil and gas company's stock worth $2,933,000 after buying an additional 6,219 shares during the period. Finally, Boston Partners acquired a new stake in shares of PBF Energy during the 1st quarter valued at approximately $1,393,000. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Stock Up 0.3 %

Shares of NYSE:PBF traded up $0.10 during midday trading on Friday, hitting $31.49. 1,053,025 shares of the company's stock traded hands, compared to its average volume of 1,956,451. PBF Energy Inc. has a twelve month low of $27.94 and a twelve month high of $62.88. The company has a market cap of $3.63 billion, a PE ratio of -12.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The firm's fifty day moving average price is $31.43 and its two-hundred day moving average price is $37.12.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS 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 company had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the previous year, the business posted $6.61 earnings per share. The business's quarterly revenue was down 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.49%. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. PBF Energy's payout ratio is presently -42.47%.

Analysts Set New Price Targets

PBF has been the subject of a number of research analyst reports. StockNews.com cut PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. BMO Capital Markets downgraded shares of PBF Energy from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. TD Cowen dropped their price objective on shares of PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Piper Sandler lowered PBF Energy from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Finally, UBS Group lowered their target price on PBF Energy from $57.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, PBF Energy has an average rating of "Hold" and a consensus target price of $34.18.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 57,000 shares of PBF Energy stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $31.70 per share, for a total transaction of $1,806,900.00. Following the purchase, the insider now directly owns 26,739,498 shares of the company's stock, valued at $847,642,086.60. The trade was a 0.21 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 4,649,400 shares of company stock worth $147,107,697. 5.30% of the stock is currently owned by corporate insiders.

PBF Energy 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.