Alliancebernstein L.P. Trims Stake in PBF Energy Inc. (NYSE:PBF)

Alliancebernstein L.P. lessened its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 29.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 203,893 shares of the oil and gas company's stock after selling 83,402 shares during the period. Alliancebernstein L.P. owned 0.18% of PBF Energy worth $5,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. boosted its position in shares of PBF Energy by 2.6% during the 4th quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company's stock worth $375,000 after purchasing an additional 364 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in PBF Energy by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock worth $1,084,000 after acquiring an additional 459 shares in the last quarter. Spire Wealth Management grew its stake in PBF Energy by 28.2% in the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after acquiring an additional 585 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after acquiring an additional 614 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of PBF Energy by 3.2% during the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock worth $632,000 after purchasing an additional 748 shares during the period. 96.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PBF has been the topic of several research reports. Mizuho lowered their price objective on shares of PBF Energy from $28.00 to $22.00 and set an "underperform" rating on the stock in a report on Tuesday, April 1st. UBS Group cut their price target on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on PBF Energy from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. TD Cowen decreased their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. Finally, Piper Sandler reduced their target price on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a research note on Friday, March 7th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $24.18.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 60,000 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $1,757,400.00. Following the purchase, the insider now directly owns 29,144,998 shares in the company, valued at $853,656,991.42. This trade represents a 0.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 727,000 shares of company stock valued at $17,562,580. Company insiders own 5.30% of the company's stock.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $0.29 during mid-day trading on Friday, reaching $15.18. The company had a trading volume of 4,094,523 shares, compared to its average volume of 2,380,201. The company's 50-day moving average price is $19.92 and its 200-day moving average price is $26.50. PBF Energy Inc. has a one year low of $13.62 and a one year high of $58.17. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -3.22 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.25 billion. As a group, equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Thursday, February 27th. PBF Energy's payout ratio is currently -23.35%.

About PBF Energy

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.