Dimensional Fund Advisors LP Reduces Holdings in PBF Energy Inc. $PBF

Key Points

• Dimensional Fund Advisors LP decreased its stake in PBF Energy Inc. by 2.5%, owning 6,027,874 shares valued at $115,070,000 after selling 157,471 shares in the first quarter.
• PBF Energy reported a quarterly earnings per share (EPS) of ($1.03), which was an improvement over analysts' expectations of ($1.19), along with a revenue of $7.48 billion, down 14.4% year-over-year.
• The company declared a quarterly dividend of $0.275 per share, with a significant dividend yield of 4.5%, despite having a negative payout ratio of -12.81%.

Dimensional Fund Advisors LP decreased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,027,874 shares of the oil and gas company's stock after selling 157,471 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.23% of PBF Energy worth $115,070,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PBF. Fifth Third Bancorp increased its holdings in PBF Energy by 125.7% during the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 803 shares during the period. Allworth Financial LP increased its holdings in PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,090 shares during the last quarter. Neo Ivy Capital Management purchased a new position in PBF Energy in the first quarter valued at $37,000. Parallel Advisors LLC increased its holdings in PBF Energy by 80.4% in the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company's stock valued at $46,000 after buying an additional 1,085 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in PBF Energy by 54.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company's stock valued at $51,000 after buying an additional 936 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 48,500 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the acquisition, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 5.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PBF has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Mizuho increased their target price on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Piper Sandler reiterated an "underweight" rating and set a $22.00 target price (up previously from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. Wells Fargo & Company increased their target price on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of "Reduce" and a consensus target price of $25.17.

PBF Energy Trading Up 0.6%

Shares of PBF traded up $0.15 during mid-day trading on Thursday, reaching $26.51. The company had a trading volume of 878,887 shares, compared to its average volume of 3,178,250. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -3.10 and a beta of 0.92. The firm has a fifty day simple moving average of $23.86 and a 200-day simple moving average of $21.18. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $34.49. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. PBF Energy's revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. On average, sell-side analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, August 14th. PBF Energy's dividend payout ratio (DPR) is -12.81%.

About PBF Energy

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.