Thrivent Financial for Lutherans Has $1.17 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

Thrivent Financial for Lutherans lowered its stake in PBF Energy Inc. (NYSE:PBF) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,496 shares of the oil and gas company’s stock after selling 1,759 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PBF Energy were worth $1,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sei Investments Co. increased its position in shares of PBF Energy by 27.0% in the second quarter. Sei Investments Co. now owns 101,593 shares of the oil and gas company’s stock valued at $4,675,000 after acquiring an additional 21,574 shares during the last quarter. King Luther Capital Management Corp grew its holdings in PBF Energy by 5.0% during the second quarter. King Luther Capital Management Corp now owns 29,213 shares of the oil and gas company’s stock worth $1,344,000 after purchasing an additional 1,402 shares during the period. Canada Pension Plan Investment Board grew its holdings in PBF Energy by 346.6% during the second quarter. Canada Pension Plan Investment Board now owns 262,600 shares of the oil and gas company’s stock worth $12,085,000 after purchasing an additional 203,800 shares during the period. Intech Investment Management LLC bought a new position in PBF Energy during the second quarter worth about $798,000. Finally, First Eagle Investment Management LLC grew its holdings in PBF Energy by 28.7% during the second quarter. First Eagle Investment Management LLC now owns 294,117 shares of the oil and gas company’s stock worth $13,535,000 after purchasing an additional 65,600 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 50,000 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $35.60 per share, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 2,952,300 shares of company stock worth $97,300,026. Company insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PBF. Wolfe Research began coverage on PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $53.00 to $40.00 in a report on Wednesday. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Tudor Pickering upgraded PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group reduced their price objective on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $43.45.

PBF Energy Trading Down 2.1 %

Shares of PBF stock opened at $32.99 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.91 billion, a P/E ratio of 2.28 and a beta of 1.55. The stock has a 50 day simple moving average of $34.14 and a 200 day simple moving average of $44.09. PBF Energy Inc. has a 1 year low of $30.17 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. On average, research analysts predict that PBF Energy Inc. will post 0.35 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is currently 6.92%.

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.