PBF Energy Inc. (NYSE:PBF) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 51.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 218,844 shares of the oil and gas company's stock after selling 227,340 shares during the period. Prudential Financial Inc. owned 0.19% of PBF Energy worth $5,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock worth $10,920,000 after buying an additional 392,776 shares during the period. Neo Ivy Capital Management bought a new stake in PBF Energy in the 3rd quarter worth about $2,404,000. Wealthfront Advisers LLC purchased a new position in shares of PBF Energy in the 4th quarter worth $4,515,000. Bridgewater Associates LP boosted its stake in shares of PBF Energy by 40.5% during the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company's stock worth $2,896,000 after acquiring an additional 26,952 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in PBF Energy by 1.9% during the fourth quarter. William Blair Investment Management LLC now owns 712,916 shares of the oil and gas company's stock valued at $18,928,000 after purchasing an additional 13,573 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 20,000 shares of the firm's stock in a transaction on Friday, March 28th. The shares were bought at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the acquisition, the insider now directly owns 30,534,998 shares of the company's stock, valued at $582,913,111.82. This trade represents a 0.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased a total of 671,000 shares of company stock worth $17,862,200 in the last ninety days. Insiders own 6.70% of the company's stock.

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PBF Energy Stock Performance

NYSE:PBF traded down $2.24 during mid-day trading on Friday, hitting $14.46. The company's stock had a trading volume of 1,114,127 shares, compared to its average volume of 2,231,944. The business's fifty day moving average is $23.34 and its two-hundred day moving average is $27.87. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -3.08 and a beta of 1.62. PBF Energy Inc. has a 1 year low of $14.34 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS 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 firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. Analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy's dividend payout ratio (DPR) is -23.35%.

Analyst Ratings Changes

Several analysts have commented on PBF shares. UBS Group decreased their price target on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler dropped 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. Morgan Stanley reduced their price target on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. reduced their target price on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $25.55.

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.