PBF Energy Inc. (NYSE:PBF) Shares Sold by Barclays PLC

Barclays PLC lowered its stake in PBF Energy Inc. (NYSE:PBF) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,647 shares of the oil and gas company’s stock after selling 12,598 shares during the period. Barclays PLC’s holdings in PBF Energy were worth $6,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of PBF Energy by 391.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock worth $47,663,000 after buying an additional 1,226,909 shares during the period. BNP Paribas Financial Markets increased its position in shares of PBF Energy by 132.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after purchasing an additional 492,053 shares during the last quarter. Recurrent Investment Advisors LLC acquired a new stake in shares of PBF Energy in the 3rd quarter valued at $11,516,000. Hsbc Holdings PLC lifted its position in shares of PBF Energy by 246.5% during the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after purchasing an additional 355,329 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Down 4.8 %

NYSE PBF opened at $26.58 on Thursday. PBF Energy Inc. has a one year low of $26.34 and a one year high of $62.88. The firm has a market cap of $3.06 billion, a PE ratio of -10.26 and a beta of 1.57. The firm’s fifty day moving average is $30.95 and its two-hundred day moving average is $35.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company earned $6.61 earnings per share. The firm’s revenue was down 21.9% on a year-over-year basis. Analysts expect that PBF Energy Inc. will post -2.87 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.14%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PBF shares. JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $31.00 in a research note on Monday. StockNews.com downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Finally, Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $25.00 in a report on Friday, September 20th. Six investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.09.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 265,000 shares of the stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $31.87 per share, with a total value of $8,445,550.00. Following the acquisition, the insider now owns 23,217,398 shares of the company’s stock, valued at $739,938,474.26. This trade represents a 1.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have bought 3,568,100 shares of company stock valued at $111,183,331. 5.30% of the stock is owned by company insiders.

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.