Federated Hermes Inc. Sells 35,236 Shares of PBF Energy Inc. (NYSE:PBF)

Federated Hermes Inc. lessened its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 295,101 shares of the oil and gas company's stock after selling 35,236 shares during the quarter. Federated Hermes Inc. owned 0.24% of PBF Energy worth $12,973,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of PBF Energy by 84.5% in the third quarter. Assetmark Inc. now owns 1,410,260 shares of the oil and gas company's stock worth $75,491,000 after buying an additional 645,976 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PBF Energy by 26.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,093 shares of the oil and gas company's stock worth $75,001,000 after purchasing an additional 291,284 shares in the last quarter. LSV Asset Management boosted its position in PBF Energy by 89.4% during the third quarter. LSV Asset Management now owns 1,058,504 shares of the oil and gas company's stock worth $56,662,000 after purchasing an additional 499,505 shares in the last quarter. Acadian Asset Management LLC boosted its position in PBF Energy by 1,112.3% during the third quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company's stock worth $51,718,000 after purchasing an additional 886,617 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of PBF Energy by 91.3% during the third quarter. FMR LLC now owns 904,537 shares of the oil and gas company's stock valued at $48,420,000 after acquiring an additional 431,801 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

PBF Energy Stock Performance

PBF traded down $0.21 on Wednesday, hitting $57.18. 1,074,386 shares of the company traded hands, compared to its average volume of 2,182,633. The company has a 50 day moving average of $54.02 and a 200-day moving average of $48.54. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $6.84 billion, a PE ratio of 3.47 and a beta of 1.73. PBF Energy Inc. has a 12-month low of $31.25 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to analysts' expectations of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm's revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.41 earnings per share. Sell-side analysts anticipate that PBF Energy Inc. will post 7.21 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy's dividend payout ratio is currently 6.08%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction on 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 owns 160,338 shares in the company, valued at approximately $8,829,813.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the transaction, the senior vice president now directly owns 110,978 shares of the company's stock, valued at $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $55.07, for a total value of $2,202,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,829,813.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,000 shares of company stock worth $10,074,600. 6.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on PBF. Citigroup began coverage on PBF Energy in a report on Wednesday, January 24th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. lifted their target price on PBF Energy from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, April 1st. Scotiabank lifted their price objective on PBF Energy from $39.00 to $56.00 and gave the company a "sector perform" rating in a research note on Thursday, April 11th. Mizuho cut PBF Energy from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $53.00 to $58.00 in a research note on Friday, March 22nd. Finally, Bank of America raised PBF Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $52.00 to $74.00 in a research note on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $57.55.

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.