PBF Energy Inc. $PBF Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 94.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 542 shares of the oil and gas company’s stock after selling 9,006 shares during the period. NewEdge Advisors LLC’s holdings in PBF Energy were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PBF. Torren Management LLC acquired a new stake in shares of PBF Energy in the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy during the 4th quarter worth approximately $31,000. Leonteq Securities AG acquired a new position in shares of PBF Energy in the 1st quarter worth approximately $33,000. Smartleaf Asset Management LLC increased its holdings in shares of PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of PBF Energy during the 4th quarter valued at approximately $57,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Price Performance

NYSE PBF opened at $68.56 on Friday. The company has a 50 day simple moving average of $59.96 and a 200-day simple moving average of $47.83. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 6.07, a price-to-earnings-growth ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $75.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business’s revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.03) EPS. Equities research analysts predict that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

Insider Transactions at PBF Energy

In related news, SVP Trecia M. Canty sold 75,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $74.10, for a total value of $5,557,500.00. Following the completion of the sale, the senior vice president owned 191,779 shares in the company, valued at approximately $14,210,823.90. This trade represents a 28.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $74.79, for a total value of $8,974,800.00. Following the completion of the sale, the insider owned 14,285,397 shares of the company’s stock, valued at $1,068,404,841.63. This represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 6,163,674 shares of company stock worth $371,707,094. 5.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Friday, August 7th. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Evercore assumed coverage on shares of PBF Energy in a research report on Friday, July 17th. They issued an “in-line” rating and a $58.00 target price for the company. Finally, Citigroup lifted their price target on PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $50.92.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.