Bank of America Corp DE Has $10.08 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Bank of America Corp DE decreased its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 55.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 379,777 shares of the oil and gas company's stock after selling 478,099 shares during the period. Bank of America Corp DE owned about 0.33% of PBF Energy worth $10,083,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PBF. Golden State Wealth Management LLC acquired a new stake in PBF Energy during the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC increased its position in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 614 shares in the last quarter. Spire Wealth Management lifted its holdings in PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company's stock valued at $71,000 after purchasing an additional 585 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in PBF Energy by 58.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company's stock valued at $80,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in PBF Energy by 783.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company's stock valued at $84,000 after buying an additional 2,804 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 15,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $14.44 per share, with a total value of $216,600.00. Following the purchase, the insider now directly owns 30,774,998 shares of the company's stock, valued at $444,390,971.12. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 331,000 shares of company stock worth $6,075,180 in the last three months. Insiders own 6.70% of the company's stock.

PBF Energy Trading Down 1.4%

Shares of NYSE PBF traded down $0.27 during mid-day trading on Thursday, hitting $18.79. The company's stock had a trading volume of 428,748 shares, compared to its average volume of 2,525,006. PBF Energy Inc. has a one year low of $13.62 and a one year high of $49.14. The company's fifty day simple moving average is $18.04 and its 200-day simple moving average is $23.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -3.99 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the business posted $0.85 earnings per share. PBF Energy's revenue was down 18.3% compared to the same quarter last year. On average, sell-side analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.275 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 5.85%. PBF Energy's dividend payout ratio is currently -12.09%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PBF. Piper Sandler dropped their price objective on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley cut their price objective on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price objective on PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, Mizuho lifted their price target on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $22.91.

PBF Energy Company 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.