Allspring Global Investments Holdings LLC Lowers Holdings in PBF Energy Inc. (NYSE:PBF)

Allspring Global Investments Holdings LLC decreased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,743 shares of the oil and gas company's stock after selling 64,004 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of PBF Energy worth $8,429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PBF. Moneta Group Investment Advisors LLC acquired a new stake in shares of PBF Energy during the 4th quarter worth approximately $412,454,000. Norges Bank acquired a new stake in shares of PBF Energy during the 4th quarter worth approximately $43,996,000. Vanguard Group Inc. grew its position in PBF Energy by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company's stock valued at $298,916,000 after purchasing an additional 1,077,287 shares during the period. Acadian Asset Management LLC grew its position in PBF Energy by 1,112.3% in the 3rd quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company's stock valued at $51,718,000 after purchasing an additional 886,617 shares during the period. Finally, AQR Capital Management LLC grew its position in PBF Energy by 253.1% in the 1st quarter. AQR Capital Management LLC now owns 1,156,262 shares of the oil and gas company's stock valued at $49,569,000 after purchasing an additional 828,787 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Insider Activity

In other news, SVP Connor Thomas L. O sold 40,000 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the sale, the senior vice president now directly owns 160,338 shares in the company, valued at $8,829,813.66. The sale was disclosed in a document filed with the SEC, which is available at this link. In other PBF Energy news, insider Control Empresarial De Capital acquired 12,200 shares of the business's stock in a transaction dated Wednesday, January 24th. The stock was bought at an average price of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now owns 14,345,198 shares of the company's stock, valued at $629,180,384.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Connor Thomas L. O sold 40,000 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total value of $2,202,800.00. Following the transaction, the senior vice president now directly owns 160,338 shares of the company's stock, valued at approximately $8,829,813.66. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock worth $10,074,600 over the last ninety days. Company insiders own 5.30% of the company's stock.

PBF Energy Stock Performance

PBF Energy stock traded down $1.78 during midday trading on Thursday, reaching $55.49. The stock had a trading volume of 1,834,546 shares, compared to its average volume of 2,217,519. PBF Energy Inc. has a 12 month low of $31.25 and a 12 month high of $62.88. The firm's 50-day moving average price is $53.75 and its 200 day moving average price is $48.29. The firm has a market capitalization of $6.63 billion, a PE ratio of 3.48 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter in the prior year, the firm posted $4.41 earnings per share. The company's revenue was down 15.7% on a year-over-year basis. As a group, research analysts predict that PBF Energy Inc. will post 6.06 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Wednesday, February 28th. PBF Energy's dividend payout ratio is presently 6.08%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of PBF Energy from $35.00 to $41.00 and gave the company a "market perform" rating in a research report on Friday, February 16th. Mizuho downgraded shares of PBF Energy from a "buy" rating to a "neutral" rating and lifted their price target for the company from $53.00 to $58.00 in a research report on Friday, March 22nd. Wells Fargo & Company lifted their price target on shares of PBF Energy from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of PBF Energy from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, April 1st. Finally, Bank of America raised shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $57.55.

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.