Bank of America Corp DE Sells 478,099 Shares of PBF Energy Inc. (NYSE:PBF)

Bank of America Corp DE reduced its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 55.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.33% of PBF Energy worth $10,083,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in PBF Energy during the 4th quarter worth $61,000. EverSource Wealth Advisors LLC lifted its stake 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 during the period. Spire Wealth Management boosted its holdings 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 last quarter. Avior Wealth Management LLC raised 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 worth $80,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position 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 valued at $84,000 after purchasing an additional 2,804 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Trading Up 0.5%

Shares of PBF Energy stock traded up $0.11 during trading hours on Tuesday, hitting $20.40. The company's stock had a trading volume of 3,025,409 shares, compared to its average volume of 2,524,111. The company has a market capitalization of $2.36 billion, a PE ratio of -4.33 and a beta of 0.76. 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 50 day moving average of $18.11 and a 200 day moving average of $24.04. PBF Energy Inc. has a 12 month low of $13.62 and a 12 month high of $49.87.

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, beating analysts' consensus estimates 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 firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The business's revenue was down 18.3% on a year-over-year basis. Analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors 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 5.39%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy's payout ratio is presently -12.09%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital bought 16,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $222,080.00. Following the purchase, the insider now owns 30,737,998 shares of the company's stock, valued at approximately $426,643,412.24. The trade was a 0.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 331,000 shares of company stock valued at $6,075,180. Company insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PBF. TD Cowen dropped their price target on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, March 11th. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Finally, Morgan Stanley cut their target price on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $22.91.

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.