PBF Energy Inc. $PBF Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in PBF Energy by 9.3%, selling 17,100 shares and maintaining ownership of 167,200 shares worth $3,192,000.
• Analysts have set a mixed consensus on PBF Energy's stock, with price targets ranging from $22.00 to $26.00 and ratings varying from "Buy" to "Sell."
• PBF Energy reported a quarterly loss of ($1.03) EPS, but exceeded revenue expectations with $7.48 billion, although revenue was down 14.4% year-over-year.

Swiss National Bank lessened its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 167,200 shares of the oil and gas company's stock after selling 17,100 shares during the quarter. Swiss National Bank owned 0.14% of PBF Energy worth $3,192,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 803 shares in the last quarter. Allworth Financial LP boosted 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 worth $32,000 after acquiring an additional 1,090 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of PBF Energy in the first quarter worth about $37,000. Parallel Advisors LLC raised its stake in shares of 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 worth $46,000 after purchasing an additional 1,085 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of 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 worth $51,000 after purchasing an additional 936 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Performance

PBF stock traded up $1.50 during trading on Wednesday, hitting $26.33. 3,660,371 shares of the company traded hands, compared to its average volume of 3,868,021. The stock's 50-day simple moving average is $23.86 and its 200 day simple moving average is $21.18. 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 company has a market cap of $3.05 billion, a PE ratio of -3.06 and a beta of 0.92. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $34.49.

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 the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.PBF Energy's quarterly revenue was down 14.4% on a year-over-year basis. During the same period last year, the business earned ($0.54) earnings per share. On average, equities analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's dividend payout ratio is presently -12.81%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of PBF Energy stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $17.99 per share, with a total value of $872,515.00. Following the purchase, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This represents a 0.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.30% of the stock is currently owned by insiders.

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.