PBF Energy Inc. (NYSE:PBF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,538,874 shares of the oil and gas company's stock after selling 349,274 shares during the period. Bank of New York Mellon Corp owned about 2.14% of PBF Energy worth $116,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PBF. Norges Bank acquired a new stake in PBF Energy during the 4th quarter worth approximately $54,832,000. Janus Henderson Group PLC boosted its position in PBF Energy by 957.8% during the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company's stock worth $34,811,000 after buying an additional 547,509 shares during the period. SG Americas Securities LLC boosted its position in PBF Energy by 14,785.7% during the 1st quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company's stock worth $31,262,000 after buying an additional 539,381 shares during the period. Natixis acquired a new stake in PBF Energy during the 1st quarter worth approximately $16,269,000. Finally, LSV Asset Management boosted its position in PBF Energy by 20.4% during the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company's stock worth $56,045,000 after buying an additional 216,400 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Down 0.3 %

PBF stock traded down $0.10 during midday trading on Wednesday, reaching $32.62. 2,276,658 shares of the company's stock traded hands, compared to its average volume of 2,089,058. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 2.26 and a beta of 1.60. The firm's fifty day moving average price is $39.49 and its 200-day moving average price is $47.46. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a 52 week low of $32.29 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 EPS. As a group, sell-side analysts forecast that PBF Energy Inc. will post 1.63 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, August 15th. PBF Energy's dividend payout ratio is 6.92%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PBF. TD Cowen lowered their price target on shares of PBF Energy from $54.00 to $45.00 and set a "hold" rating for the company in a report on Friday, May 3rd. Piper Sandler lowered their price target on shares of PBF Energy from $54.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, June 14th. The Goldman Sachs Group lowered their price target on shares of PBF Energy from $57.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, July 1st. Mizuho lowered their price target on shares of PBF Energy from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PBF Energy from $58.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, July 2nd. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, PBF Energy has an average rating of "Hold" and an average price target of $53.80.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 200,000 shares of the business's stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $45.37 per share, with a total value of $9,074,000.00. Following the acquisition, the insider now directly owns 14,824,198 shares of the company's stock, valued at $672,573,863.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 2,448,100 shares of company stock valued at $106,825,157 in the last three months. 5.30% of the stock is currently owned by insiders.

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.