Van ECK Associates Corp Cuts Position in PBF Energy Inc. (NYSE:PBF)

Van ECK Associates Corp trimmed its stake in PBF Energy Inc. (NYSE:PBF) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,566 shares of the oil and gas company’s stock after selling 19,020 shares during the period. Van ECK Associates Corp owned 0.16% of PBF Energy worth $8,724,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Abacus Planning Group Inc. raised its holdings in PBF Energy by 54.5% in the second quarter. Abacus Planning Group Inc. now owns 5,487 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,935 shares in the last quarter. TFB Advisors LLC grew its position in shares of PBF Energy by 28.3% in the 2nd quarter. TFB Advisors LLC now owns 9,997 shares of the oil and gas company’s stock worth $460,000 after buying an additional 2,204 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of PBF Energy during the 2nd quarter worth approximately $145,000. Signaturefd LLC lifted its position in PBF Energy by 18.8% during the second quarter. Signaturefd LLC now owns 8,822 shares of the oil and gas company’s stock valued at $406,000 after acquiring an additional 1,399 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in PBF Energy in the second quarter valued at approximately $1,674,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group reduced their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Mizuho lowered their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Wells Fargo & Company cut their price objective on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Finally, The Goldman Sachs Group lowered their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and an average target price of $53.80.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $45.65 per share, for a total transaction of $342,375.00. Following the purchase, the insider now directly owns 14,882,698 shares in the company, valued at approximately $679,395,163.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 2,364,100 shares of company stock valued at $103,048,517 in the last 90 days. 5.30% of the stock is currently owned by company insiders.

PBF Energy Trading Up 2.1 %

Shares of PBF Energy stock opened at $34.06 on Tuesday. The stock has a market cap of $4.04 billion, a PE ratio of 2.36 and a beta of 1.60. The firm has a fifty day moving average price of $39.08 and a 200 day moving average price of $47.15. PBF Energy Inc. has a 1 year low of $32.17 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75.

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

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 2.94%. PBF Energy’s dividend payout ratio is presently 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.