PBF Energy Inc. (NYSE:PBF) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 64.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,545 shares of the oil and gas company's stock after selling 142,991 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of PBF Energy worth $2,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of PBF Energy during the 4th quarter worth $20,896,000. JPMorgan Chase & Co. increased its stake in PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock valued at $39,628,000 after purchasing an additional 562,287 shares during the last quarter. Van ECK Associates Corp lifted its position in PBF Energy by 2,119.6% during the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company's stock worth $10,920,000 after buying an additional 392,776 shares during the period. Private Management Group Inc. boosted its stake in PBF Energy by 24.6% in the 4th quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company's stock worth $28,071,000 after buying an additional 208,599 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in PBF Energy by 11.2% in the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock valued at $49,532,000 after buying an additional 187,351 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average price of $14.44 per share, with a total value of $216,600.00. Following the completion of the transaction, the insider now owns 30,774,998 shares in the company, valued at $444,390,971.12. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 331,000 shares of company stock worth $6,075,180 in the last ninety days. Corporate insiders own 5.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PBF. TD Cowen cut their price target on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. UBS Group dropped their price objective on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of PBF Energy from $22.00 to $18.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price target on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.82.

PBF Energy Trading Down 2.2 %

Shares of PBF stock opened at $18.32 on Thursday. The stock has a 50-day simple moving average of $18.02 and a 200 day simple moving average of $24.97. The stock has a market capitalization of $2.11 billion, a P/E ratio of -3.89 and a beta of 0.76. PBF Energy Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $51.70. 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 (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.27 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business's revenue was down 18.3% compared to the same quarter last year. On average, sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders 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 dividend on an annualized basis and a yield of 6.00%. PBF Energy's payout ratio is -12.09%.

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.

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