AQR Capital Management LLC Sells 23,533 Shares of PBF Energy Inc. $PBF

Key Points

• AQR Capital Management LLC has decreased its stake in PBF Energy Inc. by 3.6%, now holding approximately $11.98 million worth of shares, representing about 0.55% ownership.
• Several hedge funds have recently adjusted their investments in PBF Energy, with Bank of New York Mellon Corp increasing its stake by 14% and Nuveen Asset Management boosting theirs by 94.7%.
• PBF Energy's stock has experienced volatility, trading down 5.9%, and analysts have given the stock varying ratings with a consensus price target of $24.83.

AQR Capital Management LLC cut its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 630,560 shares of the oil and gas company's stock after selling 23,533 shares during the period. AQR Capital Management LLC owned about 0.55% of PBF Energy worth $11,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. VR Advisory Services Ltd increased its stake in shares of PBF Energy by 241.9% in the first quarter. VR Advisory Services Ltd now owns 170,945 shares of the oil and gas company's stock worth $3,263,000 after purchasing an additional 120,945 shares in the last quarter. Royal Bank of Canada boosted its position in shares of PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company's stock worth $590,000 after acquiring an additional 12,025 shares during the last quarter. Activest Wealth Management boosted its position in shares of PBF Energy by 199,900.0% during the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 1,999 shares during the last quarter. Trexquant Investment LP boosted its position in shares of PBF Energy by 255.2% during the first quarter. Trexquant Investment LP now owns 319,076 shares of the oil and gas company's stock worth $6,091,000 after acquiring an additional 229,236 shares during the last quarter. Finally, Landscape Capital Management L.L.C. boosted its position in shares of PBF Energy by 10.8% during the first quarter. Landscape Capital Management L.L.C. now owns 28,063 shares of the oil and gas company's stock worth $536,000 after acquiring an additional 2,744 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Trading Down 4.0%

Shares of PBF traded down $1.16 during midday trading on Friday, hitting $27.49. The stock had a trading volume of 4,169,567 shares, compared to its average volume of 3,754,205. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.31. The firm has a market cap of $3.18 billion, a PE ratio of -3.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The stock's 50 day moving average is $25.18 and its 200 day moving average is $21.47.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the company earned ($0.54) earnings per share. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is currently -12.81%.

Analysts Set New Price Targets

PBF has been the subject of a number of research reports. Piper Sandler upped their target price on shares of PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a research report on Thursday. Bank of America upped their target price on shares of PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a research report on Wednesday, September 3rd. Morgan Stanley upped their target price on shares of PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Scotiabank reiterated a "sector perform" rating and set a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $25.42.

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.