Orion Portfolio Solutions LLC Has $270,000 Position in PBF Energy Inc. (NYSE:PBF)

Orion Portfolio Solutions LLC decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 45.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,715 shares of the oil and gas company’s stock after selling 7,378 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in PBF Energy were worth $270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leavell Investment Management Inc. lifted its stake in shares of PBF Energy by 3.0% during the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after buying an additional 460 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after acquiring an additional 485 shares during the period. Verdence Capital Advisors LLC lifted its position in PBF Energy by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 543 shares during the last quarter. Highland Capital Management LLC boosted its holdings in shares of PBF Energy by 14.2% during the second quarter. Highland Capital Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $202,000 after acquiring an additional 546 shares during the period. Finally, National Bank of Canada FI acquired a new position in shares of PBF Energy in the second quarter valued at approximately $26,000. 96.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PBF shares. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. TD Cowen decreased their price target on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Scotiabank lowered their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group cut their price objective 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. Six research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.09.

PBF Energy Price Performance

PBF stock opened at $25.46 on Friday. The company’s 50-day moving average price is $30.79 and its two-hundred day moving average price is $35.44. The firm has a market cap of $2.93 billion, a P/E ratio of -9.83 and a beta of 1.57. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a 12 month low of $25.42 and a 12 month high of $62.88.

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

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.275 dividend. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 13th. This represents a $1.10 annualized dividend and a dividend yield of 4.32%. PBF Energy’s dividend payout ratio (DPR) is presently -42.47%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 300,000 shares of PBF Energy stock in a transaction dated Wednesday, December 4th. The shares were bought at an average cost of $30.82 per share, for a total transaction of $9,246,000.00. Following the purchase, the insider now owns 27,863,498 shares in the company, valued at approximately $858,753,008.36. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders acquired 3,318,100 shares of company stock valued at $103,238,331. Corporate 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.