PBF Energy Inc. $PBF Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in PBF Energy by 30.5% in Q1, now holding 53,337 shares worth approximately $1.02 million.
• PBF Energy's recent quarterly earnings report revealed a loss of ($1.03) EPS, surpassing estimates, with a revenue of $7.48 billion, which is down 14.4% year-over-year.
• The company declared a quarterly dividend of $0.275 per share, marking a yield of 4.1%, though PBF Energy has a negative dividend payout ratio of -12.81%.

Russell Investments Group Ltd. trimmed its holdings in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,337 shares of the oil and gas company's stock after selling 23,426 shares during the quarter. Russell Investments Group Ltd.'s holdings in PBF Energy were worth $1,018,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nuveen LLC purchased a new stake in shares of PBF Energy during the first quarter worth about $13,600,000. Invesco Ltd. increased its position in shares of PBF Energy by 13.4% during the first quarter. Invesco Ltd. now owns 1,144,734 shares of the oil and gas company's stock worth $21,853,000 after acquiring an additional 135,318 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PBF Energy during the first quarter worth about $403,000. Deutsche Bank AG increased its position in shares of PBF Energy by 697.2% during the first quarter. Deutsche Bank AG now owns 784,515 shares of the oil and gas company's stock worth $14,976,000 after acquiring an additional 686,103 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PBF Energy by 12.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock worth $31,981,000 after acquiring an additional 182,456 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Wells Fargo & Company boosted their price objective on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Mizuho boosted their price objective on PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Bank of America boosted their price objective on PBF Energy from $16.00 to $21.00 and gave the company an "underperform" rating in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, PBF Energy currently has an average rating of "Reduce" and a consensus price target of $24.83.

PBF Energy Stock Performance

Shares of NYSE PBF traded down $0.67 during midday trading on Wednesday, hitting $27.81. 2,787,994 shares of the company's stock were exchanged, compared to its average volume of 3,394,272. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The stock's 50 day moving average price is $24.38 and its 200-day moving average price is $21.23. The firm has a market cap of $3.22 billion, a P/E ratio of -3.24 and a beta of 0.98. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $34.31.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.16. The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business's revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.54) earnings per share. Equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. PBF Energy's payout ratio is currently -12.81%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital bought 48,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.70% of the stock is owned by company 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.