Wellington Management Group LLP cut its holdings in PBF Energy Inc. (NYSE:PBF – Free Report) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 303,868 shares of the oil and gas company’s stock after selling 4,487 shares during the quarter. Wellington Management Group LLP owned about 0.26% of PBF Energy worth $9,405,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. National Bank of Canada FI acquired a new position in PBF Energy in the 2nd quarter valued at about $26,000. CWM LLC lifted its position in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares during the period. Quarry LP purchased a new position in shares of PBF Energy in the 3rd quarter valued at approximately $48,000. Harbor Capital Advisors Inc. acquired a new position in shares of PBF Energy in the third quarter valued at approximately $59,000. Finally, Blue Trust Inc. raised its stake in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,027 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.
PBF Energy Trading Down 1.5 %
Shares of NYSE:PBF opened at $29.26 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The business’s 50 day simple moving average is $31.25 and its 200-day simple moving average is $35.82. PBF Energy Inc. has a 12 month low of $27.94 and a 12 month high of $62.88.
PBF Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.76%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is presently -42.47%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Scotiabank reduced their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $53.00 to $40.00 in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.27.
View Our Latest Research Report on PBF
Insider Activity at PBF Energy
In related news, insider Control Empresarial De Capital acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of $30.93 per share, for a total transaction of $1,237,200.00. Following the transaction, the insider now directly owns 23,407,398 shares of the company’s stock, valued at approximately $723,990,820.14. This trade represents a 0.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have acquired 3,568,100 shares of company stock valued at $111,183,331. Insiders own 5.30% of the company’s stock.
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.
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