Jacobs Levy Equity Management Inc. Reduces Stake in PBF Energy Inc. (NYSE:PBF)

Jacobs Levy Equity Management Inc. lowered its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,301 shares of the oil and gas company's stock after selling 115,764 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.26% of PBF Energy worth $7,867,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC boosted its holdings in PBF Energy by 1,484.7% in the fourth quarter. FNY Investment Advisers LLC now owns 6,006 shares of the oil and gas company's stock worth $159,000 after acquiring an additional 5,627 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of PBF Energy during the fourth quarter worth about $68,000. Wedge Capital Management L L P NC lifted its holdings in PBF Energy by 23.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 41,406 shares of the oil and gas company's stock valued at $1,099,000 after acquiring an additional 7,855 shares during the period. Dakota Wealth Management lifted its holdings in PBF Energy by 54.5% in the fourth quarter. Dakota Wealth Management now owns 34,642 shares of the oil and gas company's stock valued at $920,000 after acquiring an additional 12,221 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in PBF Energy in the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

PBF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Scotiabank lowered their price objective on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their price target on PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. TD Cowen decreased their price target on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group cut their price objective on PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. 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 company's stock. Based on data from MarketBeat, PBF Energy currently has an average rating of "Hold" and an average price target of $22.91.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 155,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $20.20 per share, with a total value of $3,131,000.00. Following the purchase, the insider now owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. This represents a 0.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders purchased 331,000 shares of company stock valued at $6,075,180. 5.30% of the stock is owned by company insiders.

PBF Energy Stock Down 0.2%

Shares of PBF traded down $0.06 during mid-day trading on Friday, reaching $22.35. The company's stock had a trading volume of 1,644,650 shares, compared to its average volume of 2,499,047. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $51.63. The stock has a market cap of $2.58 billion, a PE ratio of -4.74 and a beta of 0.76. 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's 50 day moving average is $18.15 and its 200 day moving average is $24.47.

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

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a yield of 4.92%. PBF Energy's payout ratio is -12.09%.

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.