Bank of New York Mellon Corp Reduces Holdings in PBF Energy Inc. (NYSE:PBF)

Bank of New York Mellon Corp lessened its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 17.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,861,263 shares of the oil and gas company's stock after selling 398,430 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.62% of PBF Energy worth $49,417,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of PBF Energy by 539.7% in the third quarter. International Assets Investment Management LLC now owns 20,118 shares of the oil and gas company's stock valued at $650,000 after buying an additional 16,973 shares during the period. Farther Finance Advisors LLC raised its stake in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock valued at $81,000 after acquiring an additional 573 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy during the third quarter valued at about $59,000. Hara Capital LLC boosted its position in PBF Energy by 28.9% during the third quarter. Hara Capital LLC now owns 506,317 shares of the oil and gas company's stock worth $15,670,000 after purchasing an additional 113,519 shares during the period. Finally, Leavell Investment Management Inc. increased its stake in shares of PBF Energy by 3.0% in the third quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company's stock worth $488,000 after purchasing an additional 460 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

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PBF Energy Stock Up 1.2 %

PBF Energy stock traded up $0.25 during mid-day trading on Friday, hitting $21.26. The company had a trading volume of 2,922,199 shares, compared to its average volume of 2,097,080. PBF Energy Inc. has a 12 month low of $18.97 and a 12 month high of $62.88. The company has a market capitalization of $2.45 billion, a PE ratio of -4.51 and a beta of 1.60. The stock's 50 day moving average price is $26.55 and its two-hundred day moving average price is $29.58. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

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

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Thursday, February 27th. PBF Energy's payout ratio is -23.35%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PBF. Piper Sandler cut their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Friday. Mizuho cut PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Monday, December 16th. TD Cowen lowered PBF Energy from a "hold" rating to a "sell" rating and reduced their target price for the company from $27.00 to $20.00 in a report on Friday, December 20th. The Goldman Sachs Group decreased their price target on PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PBF Energy from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $29.36.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 70,000 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the transaction, the insider now directly owns 28,884,998 shares of the company's stock, valued at approximately $738,300,548.88. This represents a 0.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 1,062,500 shares of company stock valued at $28,442,290 over the last 90 days. Corporate insiders own 5.30% of the company's stock.

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.