154,871 PBF Energy Inc. $PBF Shares Sold by Private Management Group Inc.

Private Management Group Inc. lowered its position in shares of PBF Energy Inc. (NYSE:PBF) by 22.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 528,357 shares of the oil and gas company’s stock after selling 154,871 shares during the period. PBF Energy comprises about 1.0% of Private Management Group Inc.’s portfolio, making the stock its 21st biggest position. Private Management Group Inc. owned about 0.45% of PBF Energy worth $40,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fulcrum Asset Management LLP grew its holdings in shares of PBF Energy by 123,826.3% during the third quarter. Fulcrum Asset Management LLP now owns 47,092 shares of the oil and gas company’s stock worth $3,543,000 after purchasing an additional 47,054 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in PBF Energy by 85.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,428 shares of the oil and gas company’s stock valued at $21,279,000 after buying an additional 119,385 shares during the last quarter. Brighton Jones LLC raised its holdings in PBF Energy by 1.8% in the 3rd quarter. Brighton Jones LLC now owns 12,632 shares of the oil and gas company’s stock valued at $972,000 after buying an additional 220 shares during the last quarter. Parallel Advisors LLC boosted its position in PBF Energy by 7.7% during the 3rd quarter. Parallel Advisors LLC now owns 3,284 shares of the oil and gas company’s stock worth $253,000 after buying an additional 234 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in PBF Energy during the 3rd quarter worth approximately $634,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 170,000 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $88.03, for a total transaction of $14,965,100.00. Following the sale, the insider owned 13,326,127 shares of the company’s stock, valued at approximately $1,173,098,959.81. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Steven John Andriola sold 2,522 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $76.69, for a total value of $193,412.18. Following the sale, the chief accounting officer owned 16,659 shares of the company’s stock, valued at approximately $1,277,578.71. The trade was a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,380,060 shares of company stock worth $181,363,248 over the last three months. 5.50% of the stock is owned by company insiders.

PBF Energy Price Performance

PBF Energy stock opened at $69.57 on Tuesday. The stock’s 50 day moving average is $77.59 and its 200 day moving average is $54.71. PBF Energy Inc. has a one year low of $25.62 and a one year high of $92.46. The firm has a market cap of $8.25 billion, a P/E ratio of 3.11, a P/E/G ratio of 0.07 and a beta of 0.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.59 and a quick ratio of 0.96.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, beating analysts’ consensus estimates of $11.12 by $1.66. The business had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $10.60 billion. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The company’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.52) EPS. As a group, research analysts expect that PBF Energy Inc. will post 26.78 EPS for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.3250 per share. This represents a $1.30 annualized dividend and a dividend yield of 1.9%. This is a boost from PBF Energy’s previous quarterly dividend of $0.2750. The ex-dividend date is Thursday, November 12th. PBF Energy’s dividend payout ratio is currently 4.91%.

Wall Street Analyst Weigh In

PBF has been the subject of several recent research reports. BMO Capital Markets restated a “market perform” rating on shares of PBF Energy in a research report on Thursday, October 1st. Freedom Capital lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Freedom Broker upgraded shares of PBF Energy from a “sell” rating to a “hold” rating and lifted their price target for the stock from $55.00 to $63.00 in a report on Monday, November 2nd. TD Cowen boosted their price objective on shares of PBF Energy from $73.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, October 22nd. Finally, Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $70.50.

PBF Energy Profile

PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast.

PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.

The company also has logistics operations that support the movement and storage of crude oil and refined products through pipelines, terminals and related infrastructure.