Invesco Ltd. Sells 298,670 Shares of PBF Energy Inc. (NYSE:PBF)

Invesco Ltd. trimmed its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,009,416 shares of the oil and gas company's stock after selling 298,670 shares during the period. Invesco Ltd. owned about 0.88% of PBF Energy worth $26,800,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PBF. Tidal Investments LLC bought a new position in PBF Energy during the third quarter worth $1,642,000. B. Riley Wealth Advisors Inc. raised its position in shares of PBF Energy by 35.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 57,289 shares of the oil and gas company's stock worth $1,801,000 after acquiring an additional 14,892 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 1,056 shares during the period. West Oak Capital LLC boosted its position in shares of PBF Energy by 6,069.5% during the 4th quarter. West Oak Capital LLC now owns 12,339 shares of the oil and gas company's stock valued at $328,000 after purchasing an additional 12,139 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its stake in PBF Energy by 1,484.7% during the fourth quarter. FNY Investment Advisers LLC now owns 6,006 shares of the oil and gas company's stock worth $159,000 after purchasing an additional 5,627 shares during the period. 96.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PBF. Morgan Stanley cut their price target on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. Piper Sandler dropped their price objective on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group reduced their target price on PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. dropped their price target on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $24.18.

PBF Energy Stock Up 1.4 %

Shares of PBF traded up $0.23 during trading hours on Thursday, reaching $16.13. 517,816 shares of the stock traded hands, compared to its average volume of 2,383,658. PBF Energy Inc. has a 52 week low of $13.62 and a 52 week high of $58.17. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -3.42 and a beta of 1.15. The stock has a fifty day simple moving average of $19.13 and a 200 day simple moving average of $26.04. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion during the quarter, compared to analysts' expectations of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 EPS 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 given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 6.82%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio is presently -23.35%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 60,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of $29.29 per share, with a total value of $1,757,400.00. Following the acquisition, the insider now owns 29,144,998 shares of the company's stock, valued at $853,656,991.42. This trade represents a 0.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 627,000 shares of company stock valued at $14,602,580. 6.70% of the stock is owned by insiders.

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.