Federated Hermes Inc. Sells 37,359 Shares of PBF Energy Inc. (NYSE:PBF)

Federated Hermes Inc. lessened its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 90.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,991 shares of the oil and gas company's stock after selling 37,359 shares during the period. Federated Hermes Inc.'s holdings in PBF Energy were worth $106,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in PBF Energy by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 111,288 shares of the oil and gas company's stock valued at $2,955,000 after purchasing an additional 18,097 shares during the period. Landscape Capital Management L.L.C. acquired a new position in PBF Energy in the fourth quarter valued at approximately $672,000. Bryce Point Capital LLC acquired a new position in PBF Energy in the fourth quarter valued at approximately $802,000. Heartland Advisors Inc. bought a new position in PBF Energy in the fourth quarter valued at approximately $1,420,000. Finally, New Age Alpha Advisors LLC acquired a new stake in PBF Energy during the 4th quarter worth $449,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBF. Scotiabank reduced their price target on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Mizuho decreased their target price on PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. Piper Sandler cut their price target on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, March 7th. TD Cowen decreased their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, PBF Energy has an average rating of "Hold" and an average price target of $24.18.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 15,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 approximately $444,390,971.12. This represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 627,000 shares of company stock valued at $14,602,580. 6.70% of the stock is owned by insiders.

PBF Energy Stock Up 1.9 %

Shares of NYSE:PBF traded up $0.30 during mid-day trading on Thursday, reaching $16.20. 464,403 shares of the stock were exchanged, compared to its average volume of 2,904,735. The company has a market cap of $1.87 billion, a P/E ratio of -3.44 and a beta of 1.15. The stock's 50 day simple moving average is $19.13 and its 200-day simple moving average is $26.04. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a one year low of $13.61 and a one year high of $58.17.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data 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). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. As a group, equities research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy's dividend payout ratio is currently -23.35%.

PBF Energy Company 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.