EMC Capital Management Sells 11,119 Shares of PBF Energy Inc. (NYSE:PBF)

EMC Capital Management lessened its stake in PBF Energy Inc. (NYSE:PBF) by 49.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,326 shares of the oil and gas company’s stock after selling 11,119 shares during the period. EMC Capital Management’s holdings in PBF Energy were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PBF. Neo Ivy Capital Management bought a new position in PBF Energy in the third quarter valued at $2,404,000. Dakota Wealth Management bought a new position in shares of PBF Energy during the 3rd quarter valued at about $694,000. Intech Investment Management LLC raised its holdings in shares of PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock valued at $1,427,000 after buying an additional 28,770 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after buying an additional 18,173 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in PBF Energy by 40.5% in the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after buying an additional 26,952 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. TD Cowen lowered shares of PBF Energy from a “hold” rating to a “sell” rating and cut their price target for the company from $27.00 to $20.00 in a research report on Friday, December 20th. JPMorgan Chase & Co. reduced their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.00.

PBF Energy Price Performance

PBF opened at $30.55 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The stock has a market capitalization of $3.52 billion, a PE ratio of -11.80 and a beta of 1.61. The stock’s 50 day moving average price is $29.06 and its 200-day moving average price is $32.09. PBF Energy Inc. has a 52-week low of $24.21 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $6.61 EPS. The business’s revenue was down 21.9% on a year-over-year basis. On average, equities research analysts predict that PBF Energy Inc. will post -3.5 EPS for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average price of $29.60 per share, for a total transaction of $2,960,000.00. Following the completion of the acquisition, the insider now owns 29,084,998 shares in the company, valued at $860,915,940.80. This trade represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 1,907,500 shares of company stock valued at $56,659,860. Company insiders own 5.30% of the company’s stock.

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.