PBF Energy Inc. $PBF Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 44.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,809 shares of the oil and gas company’s stock after selling 34,653 shares during the period. Intech Investment Management LLC’s holdings in PBF Energy were worth $1,292,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PBF. AQR Capital Management LLC lifted its holdings in shares of PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after buying an additional 1,454,500 shares during the period. Private Management Group Inc. lifted its holdings in PBF Energy by 6.9% in the second quarter. Private Management Group Inc. now owns 1,174,201 shares of the oil and gas company’s stock valued at $25,445,000 after acquiring an additional 75,546 shares during the period. Bank of America Corp DE boosted its position in shares of PBF Energy by 26.8% during the 2nd quarter. Bank of America Corp DE now owns 1,143,521 shares of the oil and gas company’s stock worth $24,780,000 after purchasing an additional 241,773 shares in the last quarter. Norges Bank acquired a new position in shares of PBF Energy during the 2nd quarter worth $24,599,000. Finally, JPMorgan Chase & Co. grew its stake in shares of PBF Energy by 133.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock worth $22,420,000 after purchasing an additional 591,975 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PBF shares. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective on the stock. in a report on Monday, December 8th. Piper Sandler lifted their price target on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $31.00 to $38.00 in a report on Friday, December 12th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and an average target price of $30.21.

PBF Energy Stock Performance

NYSE:PBF opened at $43.22 on Friday. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $47.18. The firm has a market cap of $5.05 billion, a PE ratio of -29.40, a P/E/G ratio of 6.12 and a beta of 0.41. The firm has a 50 day simple moving average of $33.46 and a 200-day simple moving average of $31.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the firm earned ($2.82) earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a yield of 2.5%. PBF Energy’s dividend payout ratio (DPR) is currently -74.83%.

Insider Buying and Selling at PBF Energy

In related news, Director Thomas J. Nimbley sold 200,000 shares of PBF Energy stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $40.07, for a total value of $8,014,000.00. Following the transaction, the director owned 790,716 shares in the company, valued at approximately $31,683,990.12. This trade represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital sold 903,100 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.62, for a total value of $38,490,122.00. Following the sale, the insider directly owned 26,469,098 shares of the company’s stock, valued at approximately $1,128,112,956.76. This trade represents a 3.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,212,979 shares of company stock worth $158,329,922 over the last ninety days. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.