Assetmark Inc. Has $22.02 Million Stake in PBF Energy Inc. (NYSE:PBF)

Assetmark Inc. lessened its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 63.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 711,408 shares of the oil and gas company's stock after selling 1,246,715 shares during the period. Assetmark Inc. owned approximately 0.61% of PBF Energy worth $22,018,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of 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 raised its holdings in shares of PBF Energy by 246.5% during the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company's stock worth $22,881,000 after acquiring an additional 355,329 shares in the last quarter. Acadian Asset Management LLC grew its stake in PBF Energy by 32.9% in the second 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 in the last quarter. Natixis acquired a new position in PBF Energy in the 1st quarter worth about $16,269,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of PBF Energy by 59.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 581,045 shares of the oil and gas company's stock worth $33,451,000 after purchasing an additional 215,689 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PBF shares. Morgan Stanley lowered their price target on PBF Energy from $48.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. Wolfe Research started coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. StockNews.com lowered shares of PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, November 4th. UBS Group decreased their price objective on shares of PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Finally, TD Cowen cut their target price on PBF Energy from $32.00 to $27.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $34.18.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 85,000 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $28.37 per share, for a total transaction of $2,411,450.00. Following the completion of the purchase, the insider now directly owns 26,197,498 shares in the company, valued at approximately $743,223,018.26. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 4,492,400 shares of company stock valued at $142,172,797 over the last quarter. 5.30% of the stock is owned by company insiders.

PBF Energy Stock Up 1.1 %

Shares of NYSE PBF traded up $0.34 during mid-day trading on Friday, hitting $30.92. The company had a trading volume of 1,741,145 shares, compared to its average volume of 2,621,451. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88. The business's 50-day simple moving average is $31.82 and its 200-day simple moving average is $39.43. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF - Get Free Report) last announced 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). The firm had revenue of $8.38 billion for 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%. PBF Energy's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $6.61 EPS. As a group, research analysts anticipate that PBF Energy Inc. will post -2.73 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.275 per share. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy's payout ratio is -38.61%.

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.