ProShare Advisors LLC Trims Position in PBF Energy Inc. $PBF

ProShare Advisors LLC trimmed its stake in PBF Energy Inc. (NYSE:PBF) by 16.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,557 shares of the oil and gas company’s stock after selling 4,341 shares during the period. ProShare Advisors LLC’s holdings in PBF Energy were worth $467,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of PBF Energy by 290.9% in the first quarter. CWM LLC now owns 5,414 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 4,029 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of PBF Energy by 163.6% in the 1st quarter. Victory Capital Management Inc. now owns 125,435 shares of the oil and gas company’s stock valued at $2,395,000 after purchasing an additional 77,858 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of PBF Energy in the 1st quarter valued at about $364,000. Readystate Asset Management LP boosted its stake in shares of PBF Energy by 34.5% during the first quarter. Readystate Asset Management LP now owns 19,580 shares of the oil and gas company’s stock valued at $374,000 after purchasing an additional 5,017 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of PBF Energy by 22.5% during the first quarter. Cetera Investment Advisers now owns 45,659 shares of the oil and gas company’s stock valued at $872,000 after purchasing an additional 8,378 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PBF has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Thursday, November 13th. Tudor Pickering cut PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. UBS Group boosted their target price on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Mizuho increased their price target on PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Monday, September 15th. Finally, Scotiabank boosted their price target on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, PBF Energy has a consensus rating of “Strong Sell” and an average target price of $28.92.

PBF Energy Stock Performance

Shares of PBF opened at $37.53 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38. The stock has a 50-day moving average of $32.48 and a two-hundred day moving average of $26.38. The stock has a market cap of $4.35 billion, a P/E ratio of -8.07 and a beta of 0.79. PBF Energy Inc. has a one year low of $13.61 and a one year high of $41.47.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same period in the prior year, the company earned ($1.50) earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. As a group, research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 14th. PBF Energy’s payout ratio is presently -23.66%.

Insiders Place Their Bets

In related news, CAO Steven John Andriola sold 1,048 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total transaction of $36,040.72. Following the completion of the transaction, the chief accounting officer directly owned 20,974 shares in the company, valued at $721,295.86. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the completion of the sale, the senior vice president directly owned 200,744 shares in the company, valued at approximately $7,315,111.36. The trade was a 19.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 507,045 shares of company stock worth $18,193,421. Company 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.