Alliancebernstein L.P. Sells 83,402 Shares of PBF Energy Inc. (NYSE:PBF)

Alliancebernstein L.P. decreased its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 29.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,893 shares of the oil and gas company's stock after selling 83,402 shares during the quarter. Alliancebernstein L.P. owned 0.18% of PBF Energy worth $5,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC grew its stake in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 1,056 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PBF Energy during the 4th quarter worth about $61,000. EverSource Wealth Advisors LLC boosted its position in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 614 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in PBF Energy in the fourth quarter valued at approximately $68,000. Finally, Spire Wealth Management raised its stake in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock worth $71,000 after purchasing an additional 585 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

Shares of PBF Energy stock traded up $0.45 during trading on Thursday, reaching $15.34. 2,282,388 shares of the company's stock were exchanged, compared to its average volume of 2,369,770. The firm's 50-day moving average price is $20.19 and its 200 day moving average price is $26.61. The company has a market cap of $1.77 billion, a P/E ratio of -3.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. PBF Energy Inc. has a 1-year low of $13.62 and a 1-year high of $58.17.

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PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. As a group, research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 7.17%. PBF Energy's payout ratio is -23.35%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 15,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $14.44 per share, for a total transaction of $216,600.00. Following the completion of the acquisition, the insider now owns 30,774,998 shares in the company, valued at $444,390,971.12. This trade represents a 0.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders bought 727,000 shares of company stock worth $17,562,580. 5.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PBF. Mizuho cut their price target on shares of PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. The Goldman Sachs Group lowered their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Piper Sandler dropped their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Finally, UBS Group decreased their price objective on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $24.18.

About PBF Energy

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.