PBF Energy Inc. (NYSE:PBF) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC cut its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 58.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the oil and gas company's stock after selling 35,128 shares during the quarter. Lighthouse Investment Partners LLC's holdings in PBF Energy were worth $664,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC lifted its holdings in shares of PBF Energy by 1,484.7% in the 4th 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 last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of PBF Energy during the fourth quarter valued at $68,000. Wedge Capital Management L L P NC increased its holdings in shares of PBF Energy by 23.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 41,406 shares of the oil and gas company's stock worth $1,099,000 after acquiring an additional 7,855 shares during the period. Dakota Wealth Management boosted its stake in PBF Energy by 54.5% during the 4th quarter. Dakota Wealth Management now owns 34,642 shares of the oil and gas company's stock valued at $920,000 after purchasing an additional 12,221 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in PBF Energy in the 4th quarter worth about $200,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PBF shares. TD Cowen decreased their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, March 11th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $20.00 to $26.00 in a research note on Tuesday. Piper Sandler cut their price objective on shares of PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley decreased their price objective on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price target on PBF Energy from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.91.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 20,000 shares of the firm's stock in a transaction on Friday, March 28th. The stock was purchased at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the transaction, the insider now owns 30,534,998 shares of the company's stock, valued at $582,913,111.82. The trade was a 0.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders bought 331,000 shares of company stock valued at $6,075,180. Company insiders own 5.30% of the company's stock.

PBF Energy Trading Down 1.2%

Shares of NYSE PBF opened at $22.62 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 12 month low of $13.62 and a 12 month high of $51.63. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -4.80 and a beta of 0.76. The business has a fifty day simple moving average of $18.07 and a 200-day simple moving average of $24.58.

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

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.275 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.86%. PBF Energy's dividend payout ratio (DPR) is presently -12.09%.

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.

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