Bank of New York Mellon Corp Acquires 260,464 Shares of PBF Energy Inc. (NYSE:PBF)

Bank of New York Mellon Corp raised its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,121,727 shares of the oil and gas company's stock after buying an additional 260,464 shares during the quarter. Bank of New York Mellon Corp owned about 1.84% of PBF Energy worth $40,504,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Xponance Inc. raised its stake in shares of PBF Energy by 2.6% in the fourth 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 during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company's stock worth $1,931,000 after purchasing an additional 480 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 worth $65,000 after purchasing an additional 614 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of PBF Energy by 9.5% in the fourth quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company's stock worth $213,000 after acquiring an additional 698 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of PBF Energy by 3.2% in the fourth quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company's stock worth $632,000 after acquiring an additional 748 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $0.24 during trading hours on Friday, hitting $24.58. The company's stock had a trading volume of 1,642,225 shares, compared to its average volume of 2,735,501. The business has a 50 day moving average price of $22.13 and a two-hundred day moving average price of $22.25. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $42.64. The company has a market cap of $2.84 billion, a PE ratio of -2.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29.

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) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The business's revenue was down 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. Analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.275 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.48%. PBF Energy's dividend payout ratio is currently -12.09%.

Analysts Set New Price Targets

Several brokerages recently commented on PBF. Citigroup lifted their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday. Mizuho boosted 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. The Goldman Sachs Group cut their price target on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Piper Sandler cut their price target on PBF Energy from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price target on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.00.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 48,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the transaction, the insider owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 5.30% of the company's stock.

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.