Empirical Finance LLC Sells 8,698 Shares of PBF Energy Inc. (NYSE:PBF)

Empirical Finance LLC lessened its stake in shares of PBF Energy Inc. (NYSE:PBF) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,268 shares of the oil and gas company’s stock after selling 8,698 shares during the period. Empirical Finance LLC’s holdings in PBF Energy were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in PBF Energy in the third quarter valued at approximately $2,404,000. Dakota Wealth Management acquired a new stake in shares of PBF Energy in the 3rd quarter valued at $694,000. Intech Investment Management LLC increased its stake in shares of PBF Energy by 165.9% in 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 purchasing an additional 28,770 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of PBF Energy by 44.1% during 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 in the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of PBF Energy by 40.5% during the 3rd 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 during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Price Performance

PBF Energy stock opened at $28.73 on Wednesday. The stock’s 50 day moving average is $28.58 and its 200 day moving average is $31.44. PBF Energy Inc. has a one year low of $24.21 and a one year high of $62.88. The firm has a market cap of $3.31 billion, a P/E ratio of -11.09 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 100,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average price of $31.28 per share, with a total value of $3,128,000.00. Following the completion of the purchase, the insider now directly owns 26,532,498 shares of the company’s stock, valued at approximately $829,936,537.44. This represents a 0.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have bought 1,968,500 shares of company stock worth $58,476,810. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

PBF has been the subject of several research analyst reports. Bank of America initiated coverage on PBF Energy in a research note on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price for the company. The Goldman Sachs Group dropped 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. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and decreased their target price for the stock from $27.00 to $20.00 in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company 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 report on Monday, November 4th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.00.

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.