Assetmark Inc. Lowers Stake in PBF Energy Inc. (NYSE:PBF)

Assetmark Inc. lessened its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 92.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,417 shares of the oil and gas company’s stock after selling 659,991 shares during the quarter. Assetmark Inc.’s holdings in PBF Energy were worth $1,365,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC lifted its position in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares during the period. Quarry LP purchased a new position in shares of PBF Energy during the 3rd quarter worth about $48,000. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter worth approximately $61,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in PBF Energy in the fourth quarter valued at approximately $68,000. Finally, Farther Finance Advisors LLC increased its position in PBF Energy by 27.9% during the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 573 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PBF shares. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. TD Cowen cut their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday. Wells Fargo & Company decreased their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Piper Sandler cut their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.55.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 341,500 shares of PBF Energy stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the purchase, the insider now directly owns 28,814,998 shares of the company’s stock, valued at $773,970,846.28. This trade represents a 1.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have purchased 1,062,500 shares of company stock valued at $28,442,290. Insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

PBF stock opened at $20.12 on Wednesday. The stock’s 50 day moving average is $26.33 and its two-hundred day moving average is $29.32. PBF Energy Inc. has a 52-week low of $18.97 and a 52-week high of $62.88. The company has a market capitalization of $2.32 billion, a PE ratio of -4.27 and a beta of 1.62. 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) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $7.25 billion. Analysts predict 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 Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.275 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.47%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

PBF Energy Company 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.