PBF Energy Inc. (NYSE:PBF) Shares Acquired by Citigroup Inc.

Citigroup Inc. increased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 30.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,963 shares of the oil and gas company's stock after buying an additional 37,400 shares during the quarter. Citigroup Inc. owned about 0.14% of PBF Energy worth $4,920,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its holdings in shares of PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company's stock valued at $22,881,000 after purchasing an additional 355,329 shares during the period. Acadian Asset Management LLC increased its stake in PBF Energy by 32.9% in the 2nd 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 buying an additional 347,268 shares during the period. Canada Pension Plan Investment Board raised its position in PBF Energy by 346.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 262,600 shares of the oil and gas company's stock worth $12,085,000 after buying an additional 203,800 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of PBF Energy by 27.5% in the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company's stock worth $26,267,000 after acquiring an additional 183,183 shares during the period. Finally, HITE Hedge Asset Management LLC boosted its holdings in shares of PBF Energy by 1,325.7% in the second quarter. HITE Hedge Asset Management LLC now owns 183,540 shares of the oil and gas company's stock valued at $8,447,000 after acquiring an additional 170,666 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Trading Down 2.5 %

Shares of PBF Energy stock traded down $0.82 during mid-day trading on Tuesday, hitting $31.88. 1,741,213 shares of the stock were exchanged, compared to its average volume of 2,161,267. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -12.31 and a beta of 1.57. PBF Energy Inc. has a twelve month low of $27.94 and a twelve month high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $31.46 and a 200 day simple moving average of $36.87.

PBF Energy (NYSE:PBF - Get Free Report) last released 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 for 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%. The business's quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.61 earnings per share. Research analysts forecast that PBF Energy Inc. will post -2.86 EPS for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.275 per share. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 annualized dividend and a yield of 3.45%. PBF Energy's dividend payout ratio is -42.47%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 195,000 shares of the company's stock in a transaction on Friday, November 29th. The stock was bought at an average cost of $31.12 per share, for a total transaction of $6,068,400.00. Following the completion of the purchase, the insider now directly owns 27,563,498 shares of the company's stock, valued at $857,776,057.76. The trade was a 0.71 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 4,743,400 shares of company stock valued at $149,170,517 over the last quarter. Company insiders own 6.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Tudor Pickering upgraded shares of PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. Mizuho decreased their price target on PBF Energy from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. StockNews.com lowered PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, November 4th. Piper Sandler downgraded 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 report on Friday, September 20th. Finally, TD Cowen lowered their price target on shares of PBF Energy from $32.00 to $27.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $34.18.

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.