Prudential Financial Inc. Has $5.81 Million Stock Holdings in PBF Energy Inc. (NYSE:PBF)

Prudential Financial Inc. reduced its stake in PBF Energy Inc. (NYSE:PBF) by 51.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 218,844 shares of the oil and gas company’s stock after selling 227,340 shares during the period. Prudential Financial Inc.’s holdings in PBF Energy were worth $5,810,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of PBF Energy by 2,119.6% in the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after purchasing an additional 392,776 shares during the period. Recurrent Investment Advisors LLC acquired a new position in PBF Energy in the third quarter valued at $11,516,000. Hotchkis & Wiley Capital Management LLC acquired a new position in PBF Energy in the third quarter valued at $10,506,000. Private Management Group Inc. boosted its position in PBF Energy by 24.6% during the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company’s stock valued at $28,071,000 after acquiring an additional 208,599 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock worth $49,532,000 after acquiring an additional 187,351 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PBF shares. Piper Sandler cut their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. cut their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.36.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the acquisition, the insider now owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. The trade was a 0.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have bought 651,000 shares of company stock worth $17,480,400. 5.30% of the stock is owned by insiders.

PBF Energy Price Performance

PBF stock opened at $18.98 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The business has a 50-day simple moving average of $24.28 and a two-hundred day simple moving average of $28.19. The company has a market capitalization of $2.19 billion, a P/E ratio of -4.03 and a beta of 1.62. PBF Energy Inc. has a 52-week low of $18.82 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $7.25 billion. Research analysts expect 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. Investors of record on Thursday, February 27th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is currently -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.