MetLife Investment Management LLC Cuts Stake in PBF Energy Inc. (NYSE:PBF)

MetLife Investment Management LLC decreased its holdings in PBF Energy Inc. (NYSE:PBF) by 5.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,356 shares of the oil and gas company’s stock after selling 6,217 shares during the period. MetLife Investment Management LLC owned approximately 0.09% of PBF Energy worth $3,354,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of PBF Energy by 391.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after purchasing an additional 1,226,909 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares in the last quarter. LSV Asset Management boosted its position in PBF Energy by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock valued at $59,409,000 after buying an additional 34,470 shares during the period. American Century Companies Inc. boosted its position in PBF Energy by 3.4% during the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock valued at $45,712,000 after buying an additional 32,862 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 2.5 %

Shares of PBF Energy stock opened at $31.88 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The company has a 50-day moving average of $31.46 and a 200 day moving average of $36.87. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -12.31 and a beta of 1.57. PBF Energy Inc. has a 1 year low of $27.94 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly 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). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm’s revenue was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.61 earnings per share. As a group, sell-side analysts anticipate that PBF Energy Inc. will post -2.86 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.275 per share. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is currently -42.47%.

Analyst Upgrades and Downgrades

PBF has been the subject of several analyst reports. UBS Group dropped their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. TD Cowen dropped their price target on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, November 1st. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Finally, Scotiabank dropped their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus price target of $34.18.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 1,000,000 shares of PBF Energy stock in a transaction on Tuesday, October 15th. The stock was acquired at an average cost of $31.75 per share, for a total transaction of $31,750,000.00. Following the purchase, the insider now owns 24,462,398 shares in the company, valued at $776,681,136.50. This trade represents a 4.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 4,743,400 shares of company stock worth $149,170,517. 6.20% of the stock is owned by corporate insiders.

PBF Energy 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.