Vanguard Group Inc. Has $265.29 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

Vanguard Group Inc. lessened its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,992,056 shares of the oil and gas company's stock after selling 572,848 shares during the quarter. Vanguard Group Inc. owned approximately 8.68% of PBF Energy worth $265,289,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP acquired a new stake in shares of PBF Energy in the 3rd quarter valued at $48,000. Golden State Wealth Management LLC purchased a new stake in shares of PBF Energy during the 4th quarter worth $61,000. EverSource Wealth Advisors LLC grew its stake in shares of PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital acquired 100,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average price of $29.60 per share, for a total transaction of $2,960,000.00. Following the completion of the purchase, the insider now directly owns 29,084,998 shares of the company's stock, valued at approximately $860,915,940.80. This represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 781,000 shares of company stock valued at $19,776,200 in the last three months. 5.30% of the stock is currently owned by corporate insiders.

Remove Ads

Analysts Set New Price Targets

Several research firms have issued reports on PBF. JPMorgan Chase & Co. decreased their price objective on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. UBS Group dropped their price target on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of PBF Energy from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company dropped their price target on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group cut their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.55.

PBF Energy Price Performance

PBF stock traded down $0.10 during trading on Wednesday, hitting $14.27. 439,291 shares of the stock traded hands, compared to its average volume of 2,803,223. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -3.03 and a beta of 1.15. PBF Energy Inc. has a one year low of $13.61 and a one year high of $60.97. The company has a 50 day simple moving average of $22.10 and a 200 day simple moving average of $27.32.

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

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 7.71%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio is presently -23.35%.

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.