Wellington Management Group LLP Has $7.50 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Wellington Management Group LLP cut its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,459 shares of the oil and gas company's stock after selling 21,409 shares during the quarter. Wellington Management Group LLP owned 0.24% of PBF Energy worth $7,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Hara Capital LLC boosted its holdings in shares of PBF Energy by 7.8% in the fourth quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company's stock worth $14,486,000 after buying an additional 39,278 shares during the period. Phocas Financial Corp. purchased a new stake in shares of PBF Energy in the 4th quarter valued at approximately $254,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PBF Energy in the 4th quarter valued at approximately $3,132,000. GF Fund Management CO. LTD. acquired a new position in PBF Energy in the 4th quarter worth approximately $803,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PBF Energy by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company's stock worth $6,622,000 after purchasing an additional 17,404 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PBF shares. Scotiabank reduced their target price on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. TD Cowen reduced their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group decreased their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Morgan Stanley reduced their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price objective on shares of PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, PBF Energy has a consensus rating of "Hold" and an average target price of $22.91.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 110,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $17.40 per share, with a total value of $1,914,000.00. Following the completion of the transaction, the insider now directly owns 30,696,998 shares in the company, valued at $534,127,765.20. This trade represents a 0.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 176,000 shares of company stock valued at $2,944,180 over the last quarter. Insiders own 5.30% of the company's stock.

PBF Energy Stock Up 0.8%

PBF traded up $0.14 during midday trading on Thursday, hitting $18.08. 3,567,321 shares of the company's stock traded hands, compared to its average volume of 2,550,703. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market cap of $2.09 billion, a PE ratio of -3.84 and a beta of 0.76. The stock's fifty day simple moving average is $18.00 and its 200-day simple moving average is $23.58. PBF Energy Inc. has a one year low of $13.62 and a one year high of $48.20.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the business posted $0.85 EPS. PBF Energy's quarterly revenue was down 18.3% on a year-over-year basis. As a group, equities analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 annualized dividend and a yield of 6.08%. PBF Energy's dividend payout ratio (DPR) is currently -12.09%.

PBF Energy 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.