Principal Financial Group Inc. Decreases Stock Position in PBF Energy Inc. (NYSE:PBF)

Principal Financial Group Inc. trimmed its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 45.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,369 shares of the oil and gas company's stock after selling 189,361 shares during the quarter. Principal Financial Group Inc. owned approximately 0.20% of PBF Energy worth $7,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in PBF Energy by 391.9% in the third 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 purchasing an additional 1,226,909 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of PBF Energy by 32.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company's stock valued at $64,489,000 after buying an additional 347,268 shares during the last quarter. LSV Asset Management grew its stake in shares of PBF Energy by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company's stock worth $59,409,000 after acquiring an additional 34,470 shares during the period. American Century Companies Inc. increased its holdings in 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 worth $45,712,000 after acquiring an additional 32,862 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in PBF Energy by 132.6% in the 3rd 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 period. 96.29% of the stock is owned by institutional investors.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 287,100 shares of PBF Energy stock in a transaction on Wednesday, October 23rd. The shares were acquired at an average cost of $31.91 per share, for a total transaction of $9,161,361.00. Following the completion of the transaction, the insider now directly owns 24,751,498 shares of the company's stock, valued at approximately $789,820,301.18. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought 3,369,600 shares of company stock worth $102,820,721 over the last 90 days. Corporate insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of research reports. TD Cowen lowered shares of PBF Energy from a "hold" rating to a "sell" rating and cut their target price for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Wells Fargo & Company cut shares of PBF Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $39.00 to $34.00 in a report on Monday, December 9th. Bank of America assumed coverage on PBF Energy in a report on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price target for the company. Finally, Scotiabank decreased their price objective on PBF Energy from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. 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.com, the company currently has a consensus rating of "Hold" and an average target price of $32.45.

PBF Energy Price Performance

Shares of NYSE PBF traded up $0.98 during midday trading on Wednesday, hitting $26.55. 1,795,814 shares of the company's stock were exchanged, compared to its average volume of 2,166,128. 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 business's fifty day moving average price is $29.52 and its two-hundred day moving average price is $34.13. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -10.25 and a beta of 1.57. PBF Energy Inc. has a 12-month low of $24.21 and a 12-month high of $62.88.

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) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy's quarterly revenue was down 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.61 EPS. As a group, research analysts forecast that PBF Energy Inc. will post -2.87 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from PBF Energy's previous quarterly dividend of $0.25. 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.