PBF Energy Inc. (NYSE:PBF) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,777 shares of the oil and gas company's stock after selling 478,099 shares during the quarter. Bank of America Corp DE owned 0.33% of PBF Energy worth $10,083,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in PBF Energy during the 4th quarter worth approximately $61,000. EverSource Wealth Advisors LLC boosted its stake in shares of PBF Energy by 33.2% in 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 purchasing an additional 614 shares during the period. Spire Wealth Management boosted its stake in shares of 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 purchasing an additional 585 shares during the period. Avior Wealth Management LLC grew 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 in the last quarter. Finally, Sterling Capital Management LLC increased its stake in PBF Energy by 783.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company's stock worth $84,000 after buying an additional 2,804 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Stock Performance

NYSE PBF traded up $0.35 during trading hours on Thursday, reaching $19.41. The company's stock had a trading volume of 2,890,440 shares, compared to its average volume of 2,538,217. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $18.04 and a 200 day simple moving average of $23.91. PBF Energy Inc. has a 52 week low of $13.62 and a 52 week high of $48.20. The stock has a market cap of $2.24 billion, a PE ratio of -4.12 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping analysts' consensus estimates of ($3.50) by $0.41. The business had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business's quarterly revenue was down 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Equities research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Thursday, May 15th. PBF Energy's payout ratio is -12.09%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PBF shares. Morgan Stanley decreased their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. Piper Sandler reduced their target price on PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of "Hold" and a consensus target price of $22.91.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 15,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were bought at an average price of $14.44 per share, with a total value of $216,600.00. Following the completion of the acquisition, the insider now owns 30,774,998 shares in the company, valued at approximately $444,390,971.12. This represents a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have purchased 331,000 shares of company stock worth $6,075,180. 6.70% of the stock is owned by insiders.

PBF Energy 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.