Principal Financial Group Inc. Sells 189,361 Shares of PBF Energy Inc. (NYSE:PBF)

Principal Financial Group Inc. decreased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 45.0% during the 3rd quarter, according to its most recent 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 about 0.20% of PBF Energy worth $7,161,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of PBF Energy by 957.8% during the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company's stock worth $34,811,000 after acquiring an additional 547,509 shares during the period. Hsbc Holdings PLC boosted its stake in shares of PBF Energy by 246.5% during the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company's stock worth $22,881,000 after acquiring an additional 355,329 shares during the period. Acadian Asset Management LLC boosted its stake 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 worth $64,489,000 after acquiring an additional 347,268 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of PBF Energy by 59.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 581,045 shares of the oil and gas company's stock worth $33,451,000 after acquiring an additional 215,689 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of PBF Energy by 346.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 262,600 shares of the oil and gas company's stock worth $12,085,000 after acquiring an additional 203,800 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 805,300 shares of the company's stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the purchase, the insider now owns 20,634,898 shares in the company, valued at $673,110,372.76. This represents a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 4,492,400 shares of company stock valued at $142,172,797 over the last ninety days. 6.20% of the stock is owned by company insiders.

PBF Energy Price Performance

PBF Energy stock traded down $0.02 during midday trading on Wednesday, reaching $31.53. The company's stock had a trading volume of 1,015,768 shares, compared to its average volume of 2,179,469. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88. 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 has a 50-day moving average price of $31.56 and a 200-day moving average price of $38.13. The stock has a market cap of $3.63 billion, a PE ratio of -12.18 and a beta of 1.56.

PBF Energy (NYSE:PBF - Get Free Report) last announced 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). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business posted $6.61 earnings per share. The business's revenue for the quarter was down 21.9% compared to the same quarter last year. On average, sell-side analysts predict that PBF Energy Inc. will post -2.79 EPS for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.49%. This is a positive change from PBF Energy's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 13th. PBF Energy's dividend payout ratio (DPR) is presently -42.47%.

Analysts Set New Price Targets

Several research analysts have recently commented on PBF shares. Tudor Pickering upgraded PBF Energy to a "strong sell" rating in a research note on Monday, September 9th. UBS Group reduced their price target on PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, August 13th. Bank of America started 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. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Finally, BMO Capital Markets downgraded PBF Energy from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.18.

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.