PBF Energy Inc. $PBF Holdings Cut by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of PBF Energy Inc. (NYSE:PBF) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 488,527 shares of the oil and gas company’s stock after selling 15,277 shares during the quarter. Federated Hermes Inc.’s holdings in PBF Energy were worth $14,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Deseret Mutual Benefit Administrators boosted its position in PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 440 shares during the period. Quent Capital LLC bought a new stake in PBF Energy in the third quarter valued at $41,000. SBI Securities Co. Ltd. boosted its holdings in shares of PBF Energy by 66.2% during the second quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 818 shares during the period. Farther Finance Advisors LLC grew its position in shares of PBF Energy by 25.0% during the second quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 522 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

PBF opened at $33.49 on Friday. The business has a 50 day moving average price of $30.66 and a two-hundred day moving average price of $29.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -7.20, a price-to-earnings-growth ratio of 5.88 and a beta of 0.47. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $41.47.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter in the previous year, the business earned ($1.50) EPS. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other PBF Energy news, Director Thomas J. Nimbley sold 250,000 shares of PBF Energy stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.51, for a total value of $8,627,500.00. Following the transaction, the director owned 790,716 shares in the company, valued at approximately $27,287,609.16. The trade was a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Connor Thomas L. O sold 50,000 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total value of $2,041,500.00. Following the sale, the senior vice president owned 205,340 shares of the company’s stock, valued at $8,384,032.20. This trade represents a 19.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 894,624 shares of company stock worth $30,997,335. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PBF. Scotiabank boosted their target price on shares of PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Citigroup boosted their price objective on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $38.00 in a report on Friday, December 12th. TD Cowen reaffirmed a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. Finally, Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy has an average rating of “Reduce” and a consensus price target of $30.14.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.