Geode Capital Management LLC Trims Holdings in PBF Energy Inc. (NYSE:PBF)

Geode Capital Management LLC lessened its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,379,861 shares of the oil and gas company's stock after selling 136,212 shares during the quarter. Geode Capital Management LLC owned about 2.07% of PBF Energy worth $63,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock valued at $10,920,000 after purchasing an additional 392,776 shares in the last quarter. Norges Bank purchased a new position in shares of PBF Energy in the fourth quarter worth about $20,896,000. Heartland Advisors Inc. acquired a new position in PBF Energy during the fourth quarter worth about $1,420,000. Raymond James Financial Inc. acquired a new position in PBF Energy during the fourth quarter worth about $1,654,000. Finally, Wealthfront Advisers LLC acquired a new stake in PBF Energy in the 4th quarter valued at about $4,515,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $20.20 per share, with a total value of $3,131,000.00. Following the completion of the acquisition, the insider now directly owns 30,249,998 shares of the company's stock, valued at $611,049,959.60. This trade represents a 0.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders bought 727,000 shares of company stock valued at $17,562,580. Insiders own 5.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PBF shares. TD Cowen lowered their target price on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Piper Sandler dropped their target price on 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 cut their target price on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, UBS Group cut their target price 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 analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.18.

PBF Energy Stock Up 2.0 %

NYSE:PBF traded up $0.29 during midday trading on Thursday, reaching $15.18. The company had a trading volume of 4,094,521 shares, compared to its average volume of 2,945,639. The stock's fifty day simple moving average is $20.19 and its 200-day simple moving average is $26.61. 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 Inc. has a 12-month low of $13.61 and a 12-month high of $58.17. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -3.22 and a beta of 1.15.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The company had revenue of $7.35 billion during the quarter, compared to analysts' expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.25%. PBF Energy's payout ratio is -23.35%.

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.