Empirical Finance LLC Trims Position in PBF Energy Inc. (NYSE:PBF)

Empirical Finance LLC decreased its position in shares of PBF Energy Inc. (NYSE:PBF) by 8.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 19,880 shares of the oil and gas company’s stock after selling 1,743 shares during the period. Empirical Finance LLC’s holdings in PBF Energy were worth $915,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 224 shares during the period. Rise Advisors LLC purchased a new position in shares of PBF Energy during the first quarter valued at approximately $27,000. Creekmur Asset Management LLC purchased a new position in shares of PBF Energy during the fourth quarter valued at approximately $29,000. Fifth Third Bancorp raised its stake in PBF Energy by 30.4% during the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 222 shares during the period. Finally, CWM LLC raised its stake in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Up 2.1 %

Shares of NYSE:PBF opened at $34.06 on Friday. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 2.36 and a beta of 1.60. The company has a 50 day moving average of $39.08 and a two-hundred day moving average of $47.23. PBF Energy Inc. has a 52-week low of $32.17 and a 52-week high of $62.88. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $2.29 EPS. As a group, analysts forecast that PBF Energy Inc. will post 1.61 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 7,500 shares of PBF Energy stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $45.65 per share, for a total transaction of $342,375.00. Following the purchase, the insider now owns 14,882,698 shares in the company, valued at approximately $679,395,163.70. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 2,448,100 shares of company stock worth $106,825,157 in the last 90 days. 5.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho cut their price target on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. cut their price target on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Scotiabank cut their price target on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, UBS Group cut their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus price target of $53.80.

PBF Energy 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.