Renaissance Technologies LLC Has $9.25 Million Stake in PBF Energy Inc. (NYSE:PBF)

Renaissance Technologies LLC lowered its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 348,232 shares of the oil and gas company's stock after selling 248,300 shares during the period. Renaissance Technologies LLC owned 0.30% of PBF Energy worth $9,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PBF. Fortitude Family Office LLC lifted its stake in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock worth $31,000 after buying an additional 1,056 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in PBF Energy in the 4th quarter valued at approximately $61,000. EverSource Wealth Advisors LLC increased its position in PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after buying an additional 614 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PBF Energy in the fourth quarter valued at approximately $68,000. Finally, Spire Wealth Management grew its stake in shares of PBF Energy by 28.2% in the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock worth $71,000 after acquiring an additional 585 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PBF shares. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. Wells Fargo & Company decreased their target price on 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. The Goldman Sachs Group cut their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Morgan Stanley decreased their price objective 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, Piper Sandler cut their target price on PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a research note on Friday, March 7th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.18.

PBF Energy Price Performance

Shares of PBF Energy stock traded up $0.22 during trading on Wednesday, reaching $15.90. The company's stock had a trading volume of 600,541 shares, compared to its average volume of 2,380,177. The stock has a 50-day moving average price of $19.28 and a two-hundred day moving average price of $26.11. The stock has a market capitalization of $1.83 billion, a P/E ratio of -3.38 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a one year low of $13.62 and a one year high of $58.17.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts anticipate 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. Investors of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy's dividend payout ratio (DPR) is -23.35%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 46,000 shares of PBF Energy stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $29.70 per share, for a total transaction of $1,366,200.00. Following the completion of the acquisition, the insider now owns 29,190,998 shares in the company, valued at approximately $866,972,640.60. This represents a 0.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 627,000 shares of company stock worth $14,602,580 over the last ninety days. Company insiders own 6.70% of the company's stock.

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.