Allspring Global Investments Holdings LLC Has $8.43 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

Allspring Global Investments Holdings LLC cut its position in PBF Energy Inc. (NYSE:PBF) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,743 shares of the oil and gas company’s stock after selling 64,004 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.16% of PBF Energy worth $8,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in PBF Energy by 4,296.0% in the 4th quarter. International Assets Investment Management LLC now owns 120,670 shares of the oil and gas company’s stock valued at $5,305,000 after buying an additional 117,925 shares during the last quarter. Bleakley Financial Group LLC grew its stake in PBF Energy by 22.0% in the 4th quarter. Bleakley Financial Group LLC now owns 6,980 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 1,260 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in PBF Energy in the 4th quarter valued at $73,000. Stratos Wealth Partners LTD. grew its position in PBF Energy by 19.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,136 shares of the oil and gas company’s stock worth $226,000 after purchasing an additional 853 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in PBF Energy by 1.0% in the 4th quarter. New York State Teachers Retirement System now owns 147,789 shares of the oil and gas company’s stock worth $6,497,000 after purchasing an additional 1,429 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Control Empresarial De Capital acquired 12,200 shares of the stock in a transaction on Wednesday, January 24th. The stock was bought at an average price of $43.86 per share, with a total value of $535,092.00. Following the transaction, the insider now directly owns 14,345,198 shares in the company, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 180,000 shares of company stock worth $10,074,600. 6.20% of the stock is currently owned by corporate insiders.

PBF Energy Trading Down 0.6 %

Shares of PBF stock opened at $57.27 on Thursday. PBF Energy Inc. has a 12-month low of $31.25 and a 12-month high of $62.88. The company has a market capitalization of $6.85 billion, a P/E ratio of 3.48 and a beta of 1.73. The firm has a 50-day moving average price of $53.75 and a 200 day moving average price of $48.29. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same period in the prior year, the business earned $4.41 earnings per share. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts forecast that PBF Energy Inc. will post 6.06 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, February 28th. PBF Energy’s dividend payout ratio is currently 6.08%.

Analysts Set New Price Targets

PBF has been the topic of several research analyst reports. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $74.00 in a research report on Friday, March 15th. Wells Fargo & Company raised their price target on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup initiated coverage on shares of PBF Energy in a research report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Mizuho lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.55.

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.