PBF Energy Inc. $PBF Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in PBF Energy Inc. (NYSE:PBF) by 44.7% during the third quarter, HoldingsChannel.com reports. The fund owned 42,809 shares of the oil and gas company’s stock after selling 34,653 shares during the quarter. Intech Investment Management LLC’s holdings in PBF Energy were worth $1,292,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PBF. Smartleaf Asset Management LLC raised its position in PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in shares of PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 440 shares during the period. Hantz Financial Services Inc. lifted its position in PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 912 shares in the last quarter. Quent Capital LLC purchased a new position in PBF Energy in the 3rd quarter worth approximately $41,000. Finally, SBI Securities Co. Ltd. increased its position in shares of PBF Energy by 66.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 818 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

PBF opened at $43.22 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $33.46 and its 200-day moving average is $31.83. The stock has a market cap of $5.05 billion, a PE ratio of -29.40, a price-to-earnings-growth ratio of 6.12 and a beta of 0.41. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $47.18.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.82) earnings per share. On average, analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a $0.275 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.10 annualized dividend and a yield of 2.5%. PBF Energy’s payout ratio is -74.83%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 903,100 shares of PBF Energy stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.62, for a total value of $38,490,122.00. Following the transaction, the insider directly owned 26,469,098 shares of the company’s stock, valued at $1,128,112,956.76. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Nimbley sold 200,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the transaction, the director owned 790,716 shares in the company, valued at approximately $31,683,990.12. The trade was a 20.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,212,979 shares of company stock worth $158,329,922. 5.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PBF. BMO Capital Markets reaffirmed a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a report on Monday, January 5th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research note on Monday, December 29th. Finally, Citigroup lifted their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of “Reduce” and a consensus price target of $30.21.

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.