American International Group Inc. Lowers Stock Holdings in PBF Energy Inc. (NYSE:PBF)

American International Group Inc. reduced its stake in PBF Energy Inc. (NYSE:PBF) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,522 shares of the oil and gas company’s stock after selling 9,389 shares during the period. American International Group Inc. owned 0.17% of PBF Energy worth $8,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in PBF Energy by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock worth $324,487,000 after acquiring an additional 120,414 shares in the last quarter. LSV Asset Management grew its stake in PBF Energy by 20.4% in the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after acquiring an additional 216,400 shares in the last quarter. Norges Bank bought a new position in PBF Energy in the 4th quarter worth about $54,832,000. Acadian Asset Management LLC grew its stake in PBF Energy by 1,112.3% in the 3rd quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock worth $51,718,000 after acquiring an additional 886,617 shares in the last quarter. Finally, FMR LLC grew its stake in PBF Energy by 91.3% in the 3rd quarter. FMR LLC now owns 904,537 shares of the oil and gas company’s stock worth $48,420,000 after acquiring an additional 431,801 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PBF has been the topic of a number of research analyst reports. TD Cowen dropped their target price on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Piper Sandler dropped their price objective on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Scotiabank increased their price objective on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $58.00 in a research note on Friday, March 22nd. Finally, Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $74.00 in a research note on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.18.

Insider Buying and Selling

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Control Empresarial De Capital acquired 200,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the transaction, the insider now owns 14,824,198 shares in the company, valued at $672,573,863.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the transaction, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders have acquired a total of 1,383,900 shares of company stock valued at $61,580,229 in the last ninety days. Company insiders own 6.20% of the company’s stock.

PBF Energy Stock Down 2.1 %

PBF stock opened at $43.09 on Wednesday. The firm has a market cap of $5.11 billion, a PE ratio of 2.98 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.54. The firm’s fifty day moving average is $50.79 and its 200 day moving average is $49.37. PBF Energy Inc. has a one year low of $38.63 and a one year high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. The firm had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. On average, research analysts forecast that PBF Energy Inc. will post 7.19 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

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.