Connor Clark & Lunn Investment Management Ltd. Sells 31,002 Shares of PBF Energy Inc. (NYSE:PBF)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 37.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,957 shares of the oil and gas company's stock after selling 31,002 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in PBF Energy were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI bought a new position in shares of PBF Energy in the 2nd quarter valued at approximately $26,000. CWM LLC lifted its position in shares of PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company's stock worth $50,000 after buying an additional 569 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy in the 3rd quarter valued at $59,000. Blue Trust Inc. increased its holdings in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company's stock worth $68,000 after buying an additional 2,027 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in PBF Energy by 27.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock valued at $81,000 after purchasing an additional 573 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 510,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $33.18 per share, for a total transaction of $16,921,800.00. Following the acquisition, the insider now owns 19,129,598 shares in the company, valued at approximately $634,720,061.64. The trade was a 2.74 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders purchased 4,592,400 shares of company stock worth $145,300,797. Corporate insiders own 6.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on PBF shares. BMO Capital Markets lowered PBF Energy from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $42.00 to $35.00 in a research report on Friday, October 4th. StockNews.com lowered PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, November 4th. Scotiabank dropped their price target on PBF Energy from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Bank of America started coverage on PBF Energy in a research report on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price objective for the company. Finally, Tudor Pickering raised PBF Energy to a "strong sell" rating in a research report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, PBF Energy currently has an average rating of "Hold" and an average target price of $34.18.

PBF Energy Stock Performance

PBF stock traded down $0.18 during mid-day trading on Wednesday, hitting $31.39. The stock had a trading volume of 1,761,412 shares, compared to its average volume of 2,164,713. The firm has a fifty day simple moving average of $31.53 and a 200 day simple moving average of $37.48. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company earned $6.61 earnings per share. The firm's revenue for the quarter was down 21.9% on a year-over-year basis. On average, equities research analysts expect that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.50%. This is a boost from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 13th. PBF Energy's dividend payout ratio is currently -42.47%.

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.