Vanguard Group Inc. Decreases Stake in PBF Energy Inc. $PBF

Key Points

• Vanguard Group Inc. has reduced its stake in PBF Energy by 6.9%, owning 8.07% of the company after selling 690,339 shares, which are now valued at $177.57 million.
• Several other institutional investors, including Bank of New York Mellon and T. Rowe Price, have increased their positions in PBF Energy, indicating a mix of confidence among institutional investors.
• PBF Energy recently declared a quarterly dividend of $0.275, representing an annualized yield of 4.7%, despite reporting a negative EPS for the last quarter.

Vanguard Group Inc. cut its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 6.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,301,717 shares of the oil and gas company's stock after selling 690,339 shares during the period. Vanguard Group Inc. owned 8.07% of PBF Energy worth $177,570,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PBF. T. Rowe Price Investment Management Inc. raised its holdings in PBF Energy by 150.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock valued at $56,191,000 after acquiring an additional 1,272,254 shares during the last quarter. Recurrent Investment Advisors LLC raised its holdings in PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock valued at $25,096,000 after acquiring an additional 573,161 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in PBF Energy by 94.7% in the 4th quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after acquiring an additional 276,672 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after acquiring an additional 260,464 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in PBF Energy by 12.6% in the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock valued at $43,690,000 after acquiring an additional 184,194 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Up 5.9%

PBF Energy stock traded up $1.4350 during trading on Monday, reaching $25.7550. 5,435,511 shares of the company's stock were exchanged, compared to its average volume of 3,634,785. The company's 50-day moving average is $23.79 and its two-hundred day moving average is $21.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $34.57. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -3.00 and a beta of 0.92.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm's revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) EPS. On average, analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 14th. PBF Energy's dividend payout ratio is presently -12.81%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup upped their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Mizuho upped their price objective on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Wells Fargo & Company upped their price objective on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley upped their price objective on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, PBF Energy has an average rating of "Reduce" and an average price target of $25.17.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 48,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $17.99 per share, with a total value of $872,515.00. Following the transaction, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.70% 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.