Knights of Columbus Asset Advisors LLC Has $580,000 Holdings in PBF Energy Inc. $PBF

Key Points

• Knights of Columbus Asset Advisors cut its PBF Energy stake by 61.3% in the fourth quarter, leaving it with 21,384 shares worth about $580,000.
• Institutional ownership of PBF remains very high at 96.29%, even as several large funds adjusted positions; some, like Invesco and AQR Capital, significantly increased their holdings.
• Analysts are mixed to negative on the stock: the consensus rating is “Reduce” with a $36.15 price target, while recent reports included multiple sell or hold calls despite some higher price objectives.

Knights of Columbus Asset Advisors LLC lessened its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 61.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,384 shares of the oil and gas company's stock after selling 33,877 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in PBF Energy were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PBF. Invesco Ltd. grew its holdings in shares of PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company's stock worth $83,639,000 after purchasing an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company's stock worth $45,183,000 after purchasing an additional 1,454,500 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company's stock worth $36,577,000 after purchasing an additional 1,159,628 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of PBF Energy by 276.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company's stock worth $22,294,000 after purchasing an additional 755,310 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of PBF Energy by 7,210.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company's stock worth $17,037,000 after purchasing an additional 619,622 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PBF shares. TD Cowen decreased their price objective on PBF Energy from $41.00 to $36.00 and set a "sell" rating on the stock in a report on Monday, April 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of PBF Energy in a report on Monday, May 11th. Citigroup lifted their price objective on PBF Energy from $36.00 to $43.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Wall Street Zen lowered PBF Energy from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Finally, BMO Capital Markets lifted their price objective on PBF Energy from $43.00 to $50.00 and gave the stock a "market perform" rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $36.15.

Insider Transactions at PBF Energy

In other news, Director Thomas J. Nimbley sold 50,000 shares of the business's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total transaction of $2,531,000.00. Following the completion of the sale, the director owned 790,716 shares in the company, valued at $40,026,043.92. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Control Empresarial De Capital sold 220,000 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.91, for a total value of $10,100,200.00. Following the sale, the insider owned 18,468,698 shares of the company's stock, valued at approximately $847,897,925.18. The trade was a 1.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,668,525 shares of company stock worth $445,714,251 over the last 90 days. 5.50% of the stock is owned by insiders.

PBF Energy Trading Up 1.9%

Shares of PBF opened at $40.59 on Friday. The stock has a fifty day moving average price of $42.91 and a two-hundred day moving average price of $37.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. PBF Energy Inc. has a 52-week low of $17.53 and a 52-week high of $52.18. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.15 and a beta of 0.15.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the previous year, the firm posted ($3.53) EPS. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts predict that PBF Energy Inc. will post 6.7 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. PBF Energy's payout ratio is presently 29.65%.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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