PBF Energy Inc. (NYSE:PBF) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,577 shares of the oil and gas company's stock after selling 18,233 shares during the quarter. Victory Capital Management Inc.'s holdings in PBF Energy were worth $1,263,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its position 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 worth $47,663,000 after buying an additional 1,226,909 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PBF Energy by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company's stock worth $39,634,000 after purchasing an additional 78,045 shares during the last quarter. Private Management Group Inc. lifted its position in shares of PBF Energy by 24.6% during the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company's stock worth $28,071,000 after purchasing an additional 208,599 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company's stock worth $26,717,000 after purchasing an additional 492,053 shares during the last quarter. Finally, Hara Capital LLC lifted its position in shares of PBF Energy by 8.5% during the fourth quarter. Hara Capital LLC now owns 549,390 shares of the oil and gas company's stock worth $14,586,000 after purchasing an additional 43,073 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

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PBF Energy Stock Down 5.1 %

PBF traded down $1.11 on Friday, hitting $20.78. The company had a trading volume of 4,254,066 shares, compared to its average volume of 2,087,508. The stock has a fifty day moving average price of $25.39 and a 200-day moving average price of $28.67. PBF Energy Inc. has a 12-month low of $18.97 and a 12-month high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -4.41 and a beta of 1.62.

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 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 for the quarter, compared to analysts' expectations of $7.25 billion. Analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.29%. PBF Energy's payout ratio is -23.35%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 100,000 shares of the company's stock in a transaction dated Tuesday, January 14th. The shares were acquired at an average price of $28.62 per share, for a total transaction of $2,862,000.00. Following the completion of the purchase, the insider now owns 28,984,998 shares of the company's stock, valued at approximately $829,550,642.76. The trade was a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 721,000 shares of company stock worth $19,269,600. Insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

PBF has been the subject of several research analyst reports. UBS Group decreased their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group decreased their target price on PBF Energy from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their target price on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Piper Sandler decreased their target price on PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a research report on Friday, March 7th. Finally, TD Cowen cut their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $27.36.

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.