Principal Financial Group Inc. Sells 49,740 Shares of PBF Energy Inc. (NYSE:PBF)

Principal Financial Group Inc. lowered its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 420,730 shares of the oil and gas company's stock after selling 49,740 shares during the quarter. Principal Financial Group Inc. owned approximately 0.35% of PBF Energy worth $19,362,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in PBF Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company's stock valued at $514,352,000 after purchasing an additional 69,422 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in PBF Energy by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company's stock valued at $324,487,000 after purchasing an additional 120,414 shares during the last quarter. Norges Bank purchased a new stake in PBF Energy during the fourth quarter valued at about $54,832,000. Acadian Asset Management LLC lifted its holdings in PBF Energy by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company's stock valued at $60,689,000 after purchasing an additional 48,525 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in PBF Energy by 957.8% during the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company's stock valued at $34,811,000 after purchasing an additional 547,509 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

PBF traded down $0.31 on Wednesday, reaching $33.07. The company had a trading volume of 2,642,505 shares, compared to its average volume of 2,097,904. The business has a 50 day simple moving average of $38.65 and a 200 day simple moving average of $46.93. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 2.34 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy Inc. has a 52-week low of $32.17 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share 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 prior year, the business earned $2.29 earnings per share. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that PBF Energy Inc. will post 1.61 EPS 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy's payout ratio is currently 6.92%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 51,000 shares of PBF Energy stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $46.19 per share, for a total transaction of $2,355,690.00. Following the completion of the transaction, the insider now directly owns 14,875,198 shares of the company's stock, valued at $687,085,395.62. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 2,164,100 shares of company stock worth $93,974,517 over the last ninety days. Insiders own 5.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on PBF. Scotiabank dropped their price objective on shares of PBF Energy from $56.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, July 12th. Wells Fargo & Company lowered their price target on shares of PBF Energy from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday. Piper Sandler lowered their price target on shares of PBF Energy from $54.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, June 14th. JPMorgan Chase & Co. lowered their price target on shares of PBF Energy from $58.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of PBF Energy from $57.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, PBF Energy presently has a consensus rating of "Hold" and a consensus target price of $52.30.

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.