US Bancorp DE Decreases Stock Holdings in PBF Energy Inc. (NYSE:PBF)

US Bancorp DE decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,941 shares of the oil and gas company’s stock after selling 1,471 shares during the quarter. US Bancorp DE’s holdings in PBF Energy were worth $158,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP bought a new position in PBF Energy during the third quarter valued at $48,000. Golden State Wealth Management LLC bought a new position in PBF Energy during the fourth quarter valued at $61,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in PBF Energy during the fourth quarter valued at $68,000. Finally, Spire Wealth Management increased its position in PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

PBF has been the topic of a number of analyst reports. Piper Sandler cut their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Wells Fargo & Company cut their price objective on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday. Morgan Stanley cut their price target on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, UBS Group cut their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.36.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 341,500 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $26.86 per share, with a total value of $9,172,690.00. Following the purchase, the insider now directly owns 28,814,998 shares of the company’s stock, valued at $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have acquired 1,062,500 shares of company stock worth $28,442,290. 5.30% of the stock is owned by company insiders.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $20.70 on Friday. The firm has a market capitalization of $2.39 billion, a P/E ratio of -4.39 and a beta of 1.62. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $25.93 and a 200 day moving average price of $29.08. PBF Energy Inc. has a 52 week low of $18.97 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. Sell-side analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.275 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 5.32%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

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.