PBF Energy Inc. (NYSE:PBF) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,379,861 shares of the oil and gas company's stock after selling 136,212 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of PBF Energy worth $63,198,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PBF. Vestcor Inc boosted its position in PBF Energy by 1,513.2% during the third quarter. Vestcor Inc now owns 14,712 shares of the oil and gas company's stock valued at $455,000 after purchasing an additional 13,800 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of PBF Energy in the 3rd quarter worth $1,642,000. B. Riley Wealth Advisors Inc. increased its position in PBF Energy by 35.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 57,289 shares of the oil and gas company's stock valued at $1,801,000 after buying an additional 14,892 shares in the last quarter. Fortitude Family Office LLC raised its stake in PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock valued at $31,000 after buying an additional 1,056 shares during the last quarter. Finally, West Oak Capital LLC grew its stake in shares of PBF Energy by 6,069.5% during the fourth quarter. West Oak Capital LLC now owns 12,339 shares of the oil and gas company's stock worth $328,000 after acquiring an additional 12,139 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PBF. UBS Group cut their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. TD Cowen decreased their target price on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, March 11th. Scotiabank reduced their price objective on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler dropped their target price on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, PBF Energy currently has a consensus rating of "Hold" and a consensus target price of $24.18.

PBF Energy Stock Up 2.0 %

NYSE PBF traded up $0.29 during trading hours on Friday, hitting $15.18. 4,094,523 shares of the company were exchanged, compared to its average volume of 2,380,201. The company has a 50 day moving average of $19.92 and a two-hundred day moving average of $26.50. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -3.22 and a beta of 1.15. PBF Energy Inc. has a 52-week low of $13.62 and a 52-week high of $58.17.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. Equities research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 7.25%. PBF Energy's dividend payout ratio (DPR) is -23.35%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 100,000 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was purchased at an average price of $29.60 per share, for a total transaction of $2,960,000.00. Following the completion of the transaction, the insider now owns 29,084,998 shares of the company's stock, valued at $860,915,940.80. The trade was a 0.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 727,000 shares of company stock worth $17,562,580 in the last quarter. Company insiders own 5.30% of the company's stock.

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.