Trexquant Investment LP lowered its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 43.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,840 shares of the oil and gas company's stock after selling 68,482 shares during the quarter. Trexquant Investment LP owned about 0.08% of PBF Energy worth $2,385,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PBF. Van ECK Associates Corp grew its stake in shares of PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock valued at $10,920,000 after purchasing an additional 392,776 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of PBF Energy during the third quarter worth $2,404,000. Norges Bank purchased a new position in PBF Energy in the 4th quarter valued at $20,896,000. Heartland Advisors Inc. acquired a new position in PBF Energy in the 4th quarter valued at $1,420,000. Finally, Raymond James Financial Inc. purchased a new position in PBF Energy during the 4th quarter worth $1,654,000. Institutional investors and hedge funds own 96.29% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on PBF shares. UBS Group lowered their target price on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Piper Sandler lowered their price objective on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. Morgan Stanley cut their target price on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank reduced their target price on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a report on Friday. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $24.18.
Read Our Latest Analysis on PBF
PBF Energy Price Performance
Shares of PBF stock traded up $0.50 during trading hours on Friday, hitting $15.44. The company's stock had a trading volume of 3,422,638 shares, compared to its average volume of 2,343,645. 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 twelve month low of $13.62 and a twelve month high of $60.98. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -3.28 and a beta of 1.15. The business has a fifty day moving average of $21.02 and a 200-day moving average of $26.92.
PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results 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 net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.
PBF Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio is presently -23.35%.
Insider Activity at PBF Energy
In other news, insider Control Empresarial De Capital bought 16,000 shares of the stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $13.88 per share, with a total value of $222,080.00. Following the purchase, the insider now owns 30,737,998 shares of the company's stock, valued at approximately $426,643,412.24. The trade was a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders bought 812,000 shares of company stock valued at $20,207,980. 5.30% of the stock is owned by insiders.
PBF Energy Company Profile
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Free Report)
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.
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