PBF Energy Inc. (NYSE:PBF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 26.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,214 shares of the oil and gas company's stock after selling 52,271 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of PBF Energy worth $6,591,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PBF. International Assets Investment Management LLC increased its position in PBF Energy by 4,296.0% in the 4th quarter. International Assets Investment Management LLC now owns 120,670 shares of the oil and gas company's stock valued at $5,305,000 after acquiring an additional 117,925 shares during the period. Atria Wealth Solutions Inc. acquired a new position in PBF Energy in the 4th quarter valued at about $314,000. Summit Global Investments acquired a new position in PBF Energy in the 4th quarter valued at about $1,268,000. LSV Asset Management increased its position in PBF Energy by 20.4% in the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company's stock valued at $56,045,000 after acquiring an additional 216,400 shares during the period. Finally, Private Advisor Group LLC acquired a new position in PBF Energy during the 4th quarter worth approximately $283,000. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Price Performance

PBF stock traded up $0.71 on Friday, reaching $34.06. The company had a trading volume of 2,593,362 shares, compared to its average volume of 2,258,972. PBF Energy Inc. has a 1 year low of $32.17 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The company's fifty day moving average is $39.08 and its 200 day moving average is $47.19. The company has a market cap of $3.99 billion, a P/E ratio of 2.36 and a beta of 1.60.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the company posted $2.29 EPS. PBF Energy's quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts forecast that PBF Energy Inc. will post 1.61 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy's dividend payout ratio is presently 6.92%.

Analyst Upgrades and Downgrades

PBF has been the topic of several recent analyst reports. Mizuho dropped their target price on PBF Energy from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, June 20th. Piper Sandler dropped their target price on PBF Energy from $54.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, June 14th. The Goldman Sachs Group dropped their target price on PBF Energy from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, July 1st. UBS Group dropped their target price on PBF Energy from $57.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 13th. Finally, Wolfe Research started coverage on PBF Energy in a report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $53.80.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 84,000 shares of PBF Energy stock in a transaction on Monday, June 3rd. The shares were bought at an average price of $44.96 per share, with a total value of $3,776,640.00. Following the purchase, the insider now directly owns 14,429,198 shares in the company, valued at approximately $648,736,742.08. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired a total of 2,448,100 shares of company stock valued at $106,825,157 in the last quarter. 5.30% of the stock is currently owned by company 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.