PBF Energy Inc. (NYSE:PBF) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 63.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,110 shares of the oil and gas company's stock after selling 69,029 shares during the period. Franklin Resources Inc.'s holdings in PBF Energy were worth $1,279,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PBF Energy by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,662 shares of the oil and gas company's stock worth $1,135,000 after purchasing an additional 2,638 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in PBF Energy in the 2nd quarter worth about $1,674,000. Signaturefd LLC increased its position in shares of PBF Energy by 18.8% during the second quarter. Signaturefd LLC now owns 8,822 shares of the oil and gas company's stock worth $406,000 after acquiring an additional 1,399 shares during the period. International Assets Investment Management LLC bought a new stake in shares of PBF Energy during the second quarter valued at approximately $145,000. Finally, Abacus Planning Group Inc. boosted its holdings in shares of PBF Energy by 54.5% in the second quarter. Abacus Planning Group Inc. now owns 5,487 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,935 shares during the period. Institutional investors own 96.29% of the company's stock.

PBF Energy Stock Down 1.2 %

Shares of PBF traded down $0.30 during midday trading on Friday, hitting $25.40. 1,753,598 shares of the company's stock traded hands, compared to its average volume of 2,166,585. 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 stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -9.81 and a beta of 1.57. PBF Energy Inc. has a 1 year low of $24.21 and a 1 year high of $62.88. The firm's fifty day moving average is $29.91 and its 200-day moving average is $34.51.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company earned $6.61 earnings per share. The company's quarterly revenue was down 21.9% on a year-over-year basis. As a group, sell-side analysts anticipate that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid 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 dividend on an annualized basis and a yield of 4.33%. PBF Energy's dividend payout ratio is presently -42.47%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 341,500 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the transaction, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. This represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 3,354,600 shares of company stock valued at $102,728,271. Insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of research analyst reports. Tudor, Pickering, Holt & Co. lowered PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, September 9th. JPMorgan Chase & Co. downgraded PBF Energy from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. The Goldman Sachs Group dropped their target price on shares of PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a report on Tuesday, December 10th. Piper Sandler lowered shares of PBF Energy from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $47.00 to $25.00 in a report on Friday, September 20th. Finally, BMO Capital Markets downgraded shares of PBF Energy from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, PBF Energy has a consensus rating of "Hold" and an average target price of $32.45.

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.