PBF Energy Inc. $PBF Shares Sold by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds reduced its PBF Energy stake by 25.4% in the third quarter, selling 42,396 shares and retaining 124,218 shares valued at about $9.56 million.
• Institutional investors own 96.29% of PBF Energy, while insiders sold 4.37 million shares worth approximately $318.8 million over the past 90 days.
• PBF Energy reported strong quarterly results, with $6.22 in earnings per share and $11.68 billion in revenue, exceeding estimates; shares recently opened at $84.70, near the company’s 52-week high.

Counterpoint Mutual Funds LLC trimmed its position in PBF Energy Inc. (NYSE:PBF - Free Report) by 25.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,218 shares of the oil and gas company's stock after selling 42,396 shares during the quarter. PBF Energy comprises approximately 0.8% of Counterpoint Mutual Funds LLC's holdings, making the stock its 27th largest position. Counterpoint Mutual Funds LLC owned 0.10% of PBF Energy worth $9,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue grew its position in shares of PBF Energy by 5.2% in the third quarter. State of Alaska Department of Revenue now owns 12,420 shares of the oil and gas company's stock valued at $955,000 after purchasing an additional 612 shares during the last quarter. Curated Wealth Partners LLC bought a new position in shares of PBF Energy in the third quarter worth about $394,000. Mather Group LLC. acquired a new position in shares of PBF Energy during the 3rd quarter worth about $37,000. Triumph Capital Management acquired a new position in shares of PBF Energy during the 3rd quarter worth about $409,000. Finally, Krilogy Financial LLC lifted its position in shares of PBF Energy by 6.8% during the 3rd quarter. Krilogy Financial LLC now owns 9,838 shares of the oil and gas company's stock worth $836,000 after purchasing an additional 626 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas Nimbley sold 468,139 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $69.54, for a total value of $32,554,386.06. Following the sale, the director owned 793,737 shares of the company's stock, valued at $55,196,470.98. The trade was a 37.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Control Empresarial De Capital sold 490,000 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the sale, the insider directly owned 14,992,128 shares in the company, valued at approximately $1,068,339,041.28. This represents a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,366,374 shares of company stock worth $318,757,737 in the last 90 days. 5.50% of the stock is owned by company insiders.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $84.70 on Friday. PBF Energy Inc. has a 1-year low of $25.62 and a 1-year high of $92.46. The firm has a market capitalization of $10.04 billion, a PE ratio of 7.50, a PEG ratio of 0.06 and a beta of 0.18. The business's 50 day moving average is $76.13 and its 200-day moving average is $57.26. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm's revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.03) EPS. Sell-side analysts predict that PBF Energy Inc. will post 24.69 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.2750 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. PBF Energy's dividend payout ratio is presently 9.73%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research raised PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Morgan Stanley upped their price target on PBF Energy from $38.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, September 14th. Mizuho increased their price objective on PBF Energy from $65.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. Freedom Capital downgraded shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Finally, Evercore started coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $65.55.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.

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