Empowered Funds LLC Has $1.01 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Empowered Funds LLC lowered its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 85.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,623 shares of the oil and gas company's stock after selling 195,702 shares during the period. Empowered Funds LLC's holdings in PBF Energy were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. National Bank of Canada FI bought a new stake in shares of PBF Energy in the second quarter worth about $26,000. CWM LLC increased its stake in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company's stock valued at $50,000 after buying an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in PBF Energy during the 3rd quarter worth about $59,000. Blue Trust Inc. boosted its stake in shares of PBF Energy by 1,291.1% during the 3rd 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 during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of PBF Energy by 27.9% in 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 acquiring an additional 573 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PBF. TD Cowen decreased their target price on shares of PBF Energy from $32.00 to $27.00 and set a "hold" rating for the company in a research note on Friday, November 1st. BMO Capital Markets cut PBF Energy from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $42.00 to $35.00 in a research report on Friday, October 4th. The Goldman Sachs Group decreased their target price on PBF Energy from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, October 4th. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, September 9th. Finally, Bank of America initiated coverage on PBF Energy in a research note on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $34.18.

PBF Energy Stock Performance

PBF Energy stock traded down $0.16 during midday trading on Friday, reaching $31.99. The company's stock had a trading volume of 931,867 shares, compared to its average volume of 2,477,202. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. The business has a 50-day moving average price of $31.57 and a 200-day moving average price of $37.90.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business earned $6.61 EPS. The business's quarterly revenue was down 21.9% on a year-over-year basis. Analysts expect that PBF Energy Inc. will post -2.79 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.44%. PBF Energy's dividend payout ratio (DPR) is currently -42.47%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital acquired 100,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average cost of $31.28 per share, with a total value of $3,128,000.00. Following the completion of the purchase, the insider now directly owns 26,532,498 shares in the company, valued at $829,936,537.44. The trade was a 0.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired 4,592,400 shares of company stock valued at $145,300,797 in the last ninety days. 5.30% of the stock is currently owned by insiders.

About PBF Energy

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.