PBF Energy Inc. $PBF Position Trimmed by UBS Group AG

Key Points

• UBS Group AG cut its PBF Energy stake by 24.5% in the fourth quarter, selling 310,241 shares and leaving it with 956,418 shares worth about $25.9 million.
• PBF Energy reported mixed quarterly results, with EPS of -$0.88 missing estimates but revenue of $7.90 billion topping expectations and rising 11.9% year over year.
• Insiders and analysts remain cautious: insiders sold heavily over the last 90 days, and the stock currently carries a consensus rating of “Reduce” with an average price target of $35.92.

UBS Group AG trimmed its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 956,418 shares of the oil and gas company's stock after selling 310,241 shares during the period. UBS Group AG owned about 0.83% of PBF Energy worth $25,938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 589 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 440 shares during the period. Hantz Financial Services Inc. boosted its stake in PBF Energy by 235.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 912 shares during the period. Quent Capital LLC acquired a new position in PBF Energy in the 3rd quarter worth approximately $41,000. Finally, Acadian Asset Management LLC boosted its stake in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock worth $62,000 after purchasing an additional 2,354 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Trading Down 0.0%

Shares of NYSE:PBF opened at $40.71 on Monday. The firm has a fifty day moving average of $43.05 and a two-hundred day moving average of $36.29. The firm has a market capitalization of $4.76 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.17 and a beta of 0.15. PBF Energy Inc. has a 12-month low of $17.53 and a 12-month high of $52.18. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned ($3.53) EPS. On average, equities analysts expect that PBF Energy Inc. will post 6.21 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. PBF Energy's dividend payout ratio (DPR) is currently 29.65%.

Insider Activity at PBF Energy

In related news, Director Thomas J. Nimbley sold 50,000 shares of PBF Energy stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the sale, the director owned 790,716 shares of the company's stock, valued at approximately $40,026,043.92. The trade was a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Control Empresarial De Capital sold 220,000 shares of PBF Energy stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.91, for a total transaction of $10,100,200.00. Following the completion of the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 10,372,925 shares of company stock valued at $470,521,421. Insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PBF. Tudor Pickering raised shares of PBF Energy from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. Zacks Research raised shares of PBF Energy from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 19th. The Goldman Sachs Group began coverage on shares of PBF Energy in a research note on Friday, April 10th. They issued a "neutral" rating and a $49.00 price objective for the company. Wall Street Zen lowered shares of PBF Energy from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Finally, Piper Sandler lifted their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $35.92.

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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