ProShare Advisors LLC Cuts Stake in PBF Energy Inc. (NYSE:PBF)

ProShare Advisors LLC lessened its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 21.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,767 shares of the oil and gas company’s stock after selling 5,378 shares during the quarter. ProShare Advisors LLC’s holdings in PBF Energy were worth $910,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PBF. Franklin Resources Inc. boosted its holdings in PBF Energy by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 66,999 shares of the oil and gas company’s stock worth $2,945,000 after acquiring an additional 568 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in PBF Energy by 56.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 15,482 shares of the oil and gas company’s stock worth $648,000 after purchasing an additional 5,599 shares in the last quarter. TFO Wealth Partners LLC grew its position in PBF Energy by 156,275.0% during the 4th quarter. TFO Wealth Partners LLC now owns 6,255 shares of the oil and gas company’s stock worth $275,000 after purchasing an additional 6,251 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in PBF Energy during the 4th quarter valued at approximately $217,000. Finally, Rafferty Asset Management LLC raised its holdings in shares of PBF Energy by 26.2% in the fourth quarter. Rafferty Asset Management LLC now owns 172,198 shares of the oil and gas company’s stock worth $7,570,000 after buying an additional 35,756 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital bought 50,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $35.60 per share, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 18,179,598 shares in the company, valued at $647,193,688.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 2,897,300 shares of company stock worth $95,603,276. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

NYSE:PBF opened at $31.37 on Friday. The stock has a market capitalization of $3.67 billion, a PE ratio of 2.17 and a beta of 1.56. PBF Energy Inc. has a 52 week low of $30.58 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. The stock’s 50-day moving average price is $34.86 and its 200-day moving average price is $44.96.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, equities analysts expect that PBF Energy Inc. will post 0.6 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business 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 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is presently 6.92%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PBF shares. JPMorgan Chase & Co. cut their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Morgan Stanley reduced their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Mizuho reduced their price target on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.91.

About PBF Energy

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.