JPMorgan Chase & Co. Has $28.79 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

JPMorgan Chase & Co. cut its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 30.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 930,286 shares of the oil and gas company's stock after selling 416,800 shares during the period. JPMorgan Chase & Co. owned about 0.81% of PBF Energy worth $28,792,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in PBF Energy by 391.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company's stock valued at $47,663,000 after buying an additional 1,226,909 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of PBF Energy by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company's stock valued at $45,712,000 after acquiring an additional 32,862 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of PBF Energy by 132.6% in the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company's stock valued at $26,717,000 after acquiring an additional 492,053 shares during the last quarter. Private Management Group Inc. increased its position in shares of PBF Energy by 27.5% in the third quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company's stock valued at $26,267,000 after acquiring an additional 183,183 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in PBF Energy by 14.8% during the second quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company's stock worth $29,883,000 after acquiring an additional 84,532 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com downgraded PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, November 4th. BMO Capital Markets cut shares of PBF Energy from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Mizuho lowered shares of PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Piper Sandler downgraded shares of PBF Energy from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Finally, Morgan Stanley lowered their price objective on shares of PBF Energy from $48.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. Seven analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, PBF Energy presently has an average rating of "Hold" and a consensus target price of $32.45.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $0.19 during trading on Wednesday, reaching $27.06. 1,935,717 shares of the stock were exchanged, compared to its average volume of 1,745,383. PBF Energy Inc. has a 12 month low of $24.21 and a 12 month high of $62.88. The stock has a 50-day moving average price of $29.18 and a 200-day moving average price of $33.59. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.12 billion, a PE ratio of -10.45 and a beta of 1.61.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.61 earnings per share. Research analysts expect that PBF Energy Inc. will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was 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 dividend yield of 4.07%. PBF Energy's dividend payout ratio is -42.47%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 70,000 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $25.56 per share, for a total transaction of $1,789,200.00. Following the completion of the purchase, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. This represents a 0.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have acquired 3,369,600 shares of company stock valued at $102,820,721. 6.20% of the stock is owned by company insiders.

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.