Vanguard Group Inc. Has $265.29 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

Vanguard Group Inc. lessened its position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,992,056 shares of the oil and gas company's stock after selling 572,848 shares during the period. Vanguard Group Inc. owned approximately 8.68% of PBF Energy worth $265,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PBF Energy by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company's stock worth $782,000 after purchasing an additional 620 shares during the period. Captrust Financial Advisors lifted its holdings in shares of PBF Energy by 32.8% during the 3rd quarter. Captrust Financial Advisors now owns 22,273 shares of the oil and gas company's stock valued at $689,000 after acquiring an additional 5,498 shares in the last quarter. Verition Fund Management LLC purchased a new stake in PBF Energy during the 3rd quarter worth $1,918,000. Holocene Advisors LP acquired a new stake in PBF Energy in the 3rd quarter valued at $2,806,000. Finally, Quarry LP purchased a new position in PBF Energy in the third quarter valued at about $48,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company cut their price objective on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Morgan Stanley lowered their target price on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. Piper Sandler cut their price target on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, PBF Energy presently has an average rating of "Hold" and a consensus price target of $25.55.

PBF Energy Stock Performance

Shares of NYSE PBF traded up $2.07 during midday trading on Wednesday, hitting $16.44. The company's stock had a trading volume of 6,216,783 shares, compared to its average volume of 2,323,222. The firm has a market cap of $1.90 billion, a P/E ratio of -3.49 and a beta of 1.15. PBF Energy Inc. has a 1-year low of $13.46 and a 1-year high of $60.98. The firm's fifty day moving average price is $21.57 and its 200-day moving average price is $27.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts' consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. On average, sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 6.69%. The ex-dividend date was Thursday, February 27th. PBF Energy's dividend payout ratio (DPR) is -23.35%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 16,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $13.88 per share, with a total value of $222,080.00. Following the completion of the purchase, the insider now owns 30,737,998 shares in the company, valued at $426,643,412.24. This trade represents a 0.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders bought 797,000 shares of company stock worth $19,998,280. Insiders own 5.30% of the company's stock.

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.