Pacer Advisors Inc. Sells 9,997 Shares of PBF Energy Inc. $PBF

Pacer Advisors Inc. lowered its stake in PBF Energy Inc. (NYSE:PBF) by 51.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,476 shares of the oil and gas company’s stock after selling 9,997 shares during the period. Pacer Advisors Inc.’s holdings in PBF Energy were worth $451,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC increased its stake in shares of PBF Energy by 81.7% in the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 30,430 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after acquiring an additional 3,550,820 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in PBF Energy by 351.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company’s stock valued at $7,200,000 after acquiring an additional 206,666 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in PBF Energy in the fourth quarter worth about $1,485,000. Finally, Jefferies Financial Group Inc. increased its position in PBF Energy by 7,210.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company’s stock worth $17,037,000 after purchasing an additional 619,622 shares during the period. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PBF shares. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. UBS Group boosted their price target on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Freedom Capital cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Finally, TD Cowen upped their target price on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $50.15.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $69.16 on Wednesday. The firm’s 50 day simple moving average is $52.60 and its 200 day simple moving average is $44.63. PBF Energy Inc. has a fifty-two week low of $21.82 and a fifty-two week high of $74.74. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 6.12, a P/E/G ratio of 0.08 and a beta of 0.10. 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 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.03) earnings per share. As a group, sell-side analysts forecast that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Dividend Announcement

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

Insider Activity at PBF Energy

In related news, Director Thomas J. Nimbley sold 468,139 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $69.54, for a total value of $32,554,386.06. Following the completion of the transaction, the director directly owned 793,737 shares in the company, valued at approximately $55,196,470.98. The trade was a 37.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew C. Lucey sold 225,473 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at approximately $35,655,850.32. The trade was a 31.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,260,935 shares of company stock worth $235,363,946. 5.50% of the stock is owned by company insiders.

PBF Energy Company 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.