Corient Private Wealth LLC Sells 16,864 Shares of PBF Energy Inc. (NYSE:PBF)

Corient Private Wealth LLC cut its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 57.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,611 shares of the oil and gas company's stock after selling 16,864 shares during the period. Corient Private Wealth LLC's holdings in PBF Energy were worth $335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PBF. Van ECK Associates Corp increased its stake in shares of PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock worth $10,920,000 after purchasing an additional 392,776 shares in the last quarter. Recurrent Investment Advisors LLC purchased a new stake in PBF Energy in the third quarter worth about $11,516,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PBF Energy in the third quarter worth about $10,506,000. Private Management Group Inc. lifted its position in shares of PBF Energy by 24.6% during the 4th quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company's stock valued at $28,071,000 after buying an additional 208,599 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of PBF Energy during the 4th quarter valued at approximately $4,515,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was purchased at an average cost of $19.09 per share, with a total value of $381,800.00. Following the purchase, the insider now owns 30,534,998 shares in the company, valued at approximately $582,913,111.82. This trade represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 671,000 shares of company stock worth $17,862,200. 6.70% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley dropped their target price on shares of PBF Energy from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Piper Sandler decreased their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. Finally, Mizuho dropped their price objective on PBF Energy from $28.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, PBF Energy presently has an average rating of "Hold" and an average price target of $25.55.

PBF Energy Price Performance

Shares of PBF stock traded down $2.84 on Thursday, reaching $16.72. The company's stock had a trading volume of 6,634,743 shares, compared to its average volume of 2,234,959. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -3.55 and a beta of 1.62. The stock's fifty day simple moving average is $23.34 and its 200-day simple moving average is $27.87. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 1 year low of $16.51 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. Analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.58%. The ex-dividend date was Thursday, February 27th. PBF Energy's 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.