BNP Paribas Financial Markets Reduces Holdings in PBF Energy Inc. $PBF

BNP Paribas Financial Markets cut its stake in shares of PBF Energy Inc. (NYSE:PBF) by 54.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,654 shares of the oil and gas company’s stock after selling 321,103 shares during the quarter. BNP Paribas Financial Markets’ holdings in PBF Energy were worth $7,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PBF. Norges Bank bought a new position in PBF Energy during the 4th quarter valued at approximately $34,243,000. Eurizon Capital SGR S.p.A. bought a new position in PBF Energy during the 4th quarter valued at approximately $57,000. Intech Investment Management LLC raised its position in PBF Energy by 105.4% during the 4th quarter. Intech Investment Management LLC now owns 87,949 shares of the oil and gas company’s stock valued at $2,385,000 after purchasing an additional 45,140 shares during the last quarter. Prospera Financial Services Inc bought a new position in PBF Energy during the 4th quarter valued at approximately $453,000. Finally, Jefferies Financial Group Inc. raised its position in PBF Energy by 7,210.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company’s stock valued at $17,037,000 after purchasing an additional 619,622 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Stock Down 4.9%

Shares of NYSE:PBF opened at $40.31 on Wednesday. PBF Energy Inc. has a 52-week low of $19.47 and a 52-week high of $52.18. The firm has a market capitalization of $4.77 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.16 and a beta of 0.12. The stock has a 50 day moving average price of $41.96 and a 200-day moving average price of $37.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the prior year, the company posted ($3.53) EPS. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that PBF Energy Inc. will post 6.7 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.7%. PBF Energy’s dividend payout ratio is currently 29.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup upped their price target on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Piper Sandler upped their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Wall Street Zen lowered PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. TD Cowen lowered their price target on PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a research report on Monday, April 27th. Finally, Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and an average price target of $36.15.

Insider Activity

In other news, insider Control Empresarial De Capital sold 1,100,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00. Following the completion of the transaction, the insider owned 22,996,898 shares of the company’s stock, valued at approximately $1,062,686,656.58. This represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 7,582,425 shares of company stock valued at $358,083,629. 5.50% of the stock is currently owned by corporate insiders.

PBF Energy Company 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.