Franklin Resources Inc. Sells 19,455 Shares of PBF Energy Inc. (NYSE:PBF)

Franklin Resources Inc. reduced its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,655 shares of the oil and gas company's stock after selling 19,455 shares during the period. Franklin Resources Inc.'s holdings in PBF Energy were worth $522,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in PBF Energy by 2.6% during the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock worth $375,000 after buying an additional 364 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of PBF Energy by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock valued at $1,084,000 after purchasing an additional 459 shares during the last quarter. Spire Wealth Management lifted its stake in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after buying an additional 585 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after buying an additional 614 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of PBF Energy by 3.2% during the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock valued at $632,000 after buying an additional 748 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Trading Up 0.5 %

NYSE:PBF traded up $0.08 during trading hours on Wednesday, hitting $15.76. The stock had a trading volume of 282,113 shares, compared to its average volume of 2,379,113. The business's 50 day moving average is $19.28 and its 200-day moving average is $26.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -3.35 and a beta of 1.15. PBF Energy Inc. has a one year low of $13.62 and a one year high of $58.17.

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

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 6.98%. PBF Energy's dividend payout ratio (DPR) is currently -23.35%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PBF shares. Scotiabank cut their price target on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Piper Sandler lowered their price target on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Wells Fargo & Company dropped their price target on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group decreased their price target on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.18.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 46,000 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $29.70 per share, for a total transaction of $1,366,200.00. Following the purchase, the insider now owns 29,190,998 shares of the company's stock, valued at $866,972,640.60. The trade was a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 627,000 shares of company stock worth $14,602,580 in the last quarter. 6.70% of the stock is currently owned by company insiders.

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.