IPG Investment Advisors LLC Sells 64,000 Shares of PBF Energy Inc. (NYSE:PBF)

IPG Investment Advisors LLC cut its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 74.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,000 shares of the oil and gas company's stock after selling 64,000 shares during the period. IPG Investment Advisors LLC's holdings in PBF Energy were worth $584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Xponance Inc. raised its stake in shares of PBF Energy by 2.6% during the 4th quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock worth $375,000 after purchasing an additional 364 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of PBF Energy by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock worth $1,084,000 after acquiring an additional 459 shares during the period. Spire Wealth Management grew its holdings in PBF Energy by 28.2% in the 4th 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after buying an additional 614 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PBF Energy by 2.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company's stock worth $782,000 after buying an additional 620 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PBF shares. JPMorgan Chase & Co. lowered their price target on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Wells Fargo & Company lowered their target price on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Mizuho reduced their price target on PBF Energy from $28.00 to $22.00 and set an "underperform" rating on the stock in a research report on Tuesday. Finally, UBS Group dropped their price objective on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $25.55.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 100,000 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was purchased at an average cost of $28.62 per share, with a total value of $2,862,000.00. Following the acquisition, the insider now directly owns 28,984,998 shares in the company, valued at approximately $829,550,642.76. This trade represents a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 671,000 shares of company stock valued at $17,862,200 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

PBF Energy Stock Performance

Shares of NYSE PBF traded down $2.55 during mid-day trading on Thursday, reaching $17.00. 2,219,588 shares of the company's stock were exchanged, compared to its average volume of 2,216,386. The firm has a 50-day moving average price of $23.61 and a two-hundred day moving average price of $27.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -3.61 and a beta of 1.62. PBF Energy Inc. has a 52 week low of $16.90 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results 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 firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a yield of 6.47%. PBF Energy's dividend payout ratio is -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.