Voloridge Investment Management LLC Trims Position in PBF Energy Inc. (NYSE:PBF)

Voloridge Investment Management LLC lessened its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 459,244 shares of the oil and gas company's stock after selling 1,071,734 shares during the quarter. Voloridge Investment Management LLC owned 0.40% of PBF Energy worth $12,193,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PBF. T. Rowe Price Investment Management Inc. raised its stake in PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock valued at $56,191,000 after purchasing an additional 1,272,254 shares in the last quarter. Norges Bank acquired a new position in PBF Energy in the fourth quarter valued at about $20,896,000. Recurrent Investment Advisors LLC raised its stake in PBF Energy by 154.0% in the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after purchasing an additional 573,161 shares in the last quarter. JPMorgan Chase & Co. raised its stake in PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock valued at $39,628,000 after purchasing an additional 562,287 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock valued at $10,920,000 after purchasing an additional 392,776 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PBF shares. JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. The Goldman Sachs Group dropped their target price on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Wells Fargo & Company lowered their price objective on PBF Energy from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, Scotiabank lowered their price objective on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.91.

PBF Energy Trading Down 1.9%

PBF stock traded down $0.38 during trading on Friday, hitting $19.04. The company had a trading volume of 546,612 shares, compared to its average volume of 2,530,479. The business has a 50-day moving average of $18.04 and a 200-day moving average of $23.91. PBF Energy Inc. has a one year low of $13.62 and a one year high of $48.20. The stock has a market cap of $2.20 billion, a PE ratio of -4.05 and a beta of 0.76. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results 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 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 firm's revenue was down 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. 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 declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date was Thursday, May 15th. PBF Energy's payout ratio is currently -12.09%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 20,000 shares of the business's stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $19.09 per share, for a total transaction of $381,800.00. Following the purchase, the insider now owns 30,534,998 shares of the company's stock, valued at $582,913,111.82. The trade was a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders purchased 331,000 shares of company stock valued at $6,075,180. 6.70% of the stock is owned by insiders.

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.