Bank of New York Mellon Corp Lowers Holdings in PBF Energy Inc. $PBF

Bank of New York Mellon Corp trimmed its holdings in PBF Energy Inc. (NYSE:PBF) by 3.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,172,094 shares of the oil and gas company’s stock after selling 41,747 shares during the period. Bank of New York Mellon Corp’s holdings in PBF Energy were worth $55,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PBF. Torren Management LLC bought a new stake in PBF Energy during the 4th quarter valued at approximately $30,000. Los Angeles Capital Management LLC purchased a new position in PBF Energy in the 4th quarter worth approximately $31,000. Leonteq Securities AG bought a new position in PBF Energy in the 1st quarter worth approximately $33,000. Smartleaf Asset Management LLC boosted its stake in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in PBF Energy in the 4th quarter worth approximately $57,000. Institutional investors own 96.29% of the company’s stock.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the sale, the insider directly owned 15,712,128 shares of the company’s stock, valued at $856,625,218.56. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 3,541,570 shares of company stock worth $165,787,386 over the last quarter. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. Freedom Capital raised shares of PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Citigroup upped their target price on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. TD Cowen boosted their price target on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Scotiabank increased their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of “Reduce” and a consensus price target of $43.92.

PBF Energy Trading Down 3.9%

PBF stock opened at $61.83 on Friday. The firm has a fifty day moving average price of $46.28 and a 200 day moving average price of $41.49. PBF Energy Inc. has a fifty-two week low of $21.24 and a fifty-two week high of $68.33. The firm has a market cap of $7.31 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.15 and a beta of 0.11. 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 released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. PBF Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.53) EPS. Sell-side analysts anticipate that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 1.8%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

About PBF Energy

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.