Swiss National Bank Lowers Stock Position in PBF Energy Inc. (NYSE:PBF)

Swiss National Bank lessened its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,800 shares of the oil and gas company’s stock after selling 14,900 shares during the period. Swiss National Bank’s holdings in PBF Energy were worth $6,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBF. BOKF NA boosted its stake in PBF Energy by 77.9% during the first quarter. BOKF NA now owns 4,871 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 2,133 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PBF Energy by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 189,462 shares of the oil and gas company’s stock valued at $10,908,000 after purchasing an additional 11,683 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of PBF Energy by 720.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock worth $2,480,000 after purchasing an additional 37,826 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PBF Energy by 957.8% in the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock worth $34,811,000 after buying an additional 547,509 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in PBF Energy by 4.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 63,232 shares of the oil and gas company’s stock valued at $3,385,000 after buying an additional 2,687 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $31.28 per share, for a total transaction of $3,128,000.00. Following the completion of the transaction, the insider now directly owns 26,532,498 shares in the company, valued at approximately $829,936,537.44. This trade represents a 0.38 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 4,592,400 shares of company stock worth $145,300,797 in the last three months. 5.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PBF has been the subject of several analyst reports. Bank of America assumed coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price target for the company. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. UBS Group dropped their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Finally, Scotiabank lowered their price objective on 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. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.18.

PBF Energy Price Performance

NYSE PBF opened at $31.56 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The business’s fifty day moving average is $31.53 and its 200 day moving average is $37.48. The company has a market capitalization of $3.63 billion, a PE ratio of -12.18 and a beta of 1.56. PBF Energy Inc. has a fifty-two week low of $27.94 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last released its 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 during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company posted $6.61 earnings per share. The company’s revenue was down 21.9% compared to the same quarter last year. Sell-side analysts predict that PBF Energy Inc. will post -2.79 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

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.