JPMorgan Chase & Co. Decreases Stock Position in PBF Energy Inc. (NYSE:PBF)

JPMorgan Chase & Co. decreased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 30.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 930,286 shares of the oil and gas company’s stock after selling 416,800 shares during the quarter. JPMorgan Chase & Co.’s holdings in PBF Energy were worth $28,792,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of PBF Energy by 391.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock worth $47,663,000 after purchasing an additional 1,226,909 shares during the last quarter. American Century Companies Inc. lifted its holdings in PBF Energy by 3.4% during the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after buying an additional 32,862 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock worth $26,717,000 after acquiring an additional 492,053 shares in the last quarter. Private Management Group Inc. boosted its position in shares of PBF Energy by 27.5% during the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock worth $26,267,000 after acquiring an additional 183,183 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of PBF Energy by 14.8% in the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock valued at $29,883,000 after acquiring an additional 84,532 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Ratings Changes

PBF has been the subject of a number of research analyst reports. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $47.00 to $25.00 in a report on Friday, September 20th. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $42.00 to $35.00 in a report on Friday, October 4th. Morgan Stanley cut their price target on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. cut PBF Energy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.45.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 70,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the acquisition, the insider now directly owns 28,884,998 shares of the company’s stock, valued at approximately $738,300,548.88. The trade was a 0.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 3,369,600 shares of company stock valued at $102,820,721 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

PBF Energy Trading Up 0.8 %

Shares of PBF stock opened at $26.90 on Wednesday. The company has a market capitalization of $3.10 billion, a P/E ratio of -10.39 and a beta of 1.61. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $29.18 and its two-hundred day moving average is $33.59. PBF Energy Inc. has a twelve month low of $24.21 and a twelve month high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s quarterly revenue was down 21.9% on a year-over-year basis. During the same quarter last year, the business earned $6.61 earnings per share. Equities analysts forecast that PBF Energy Inc. will post -2.87 EPS for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.275 per share. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is currently -42.47%.

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.