Rhumbline Advisers Sells 18,583 Shares of PBF Energy Inc. $PBF

Rhumbline Advisers lessened its holdings in PBF Energy Inc. (NYSE:PBF) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 332,069 shares of the oil and gas company’s stock after selling 18,583 shares during the quarter. Rhumbline Advisers owned 0.29% of PBF Energy worth $7,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its position in shares of PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,248 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PBF Energy during the first quarter valued at approximately $35,000. Activest Wealth Management grew its stake in shares of PBF Energy by 199,900.0% in the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 1,999 shares during the period. UMB Bank n.a. grew its stake in shares of PBF Energy by 67.2% in the 2nd quarter. UMB Bank n.a. now owns 1,993 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 801 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in shares of PBF Energy by 66.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,054 shares of the oil and gas company’s stock worth $45,000 after buying an additional 818 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on PBF shares. Morgan Stanley set a $27.00 price target on PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday. Bank of America increased their target price on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 3rd. UBS Group boosted their price target on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Tudor Pickering cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $28.92.

Insider Activity

In other news, SVP Trecia M. Canty sold 50,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the completion of the sale, the senior vice president owned 200,744 shares in the company, valued at $7,315,111.36. The trade was a 19.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Paul T. Davis sold 50,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the transaction, the senior vice president directly owned 192,391 shares in the company, valued at $7,310,858. This trade represents a 20.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 507,045 shares of company stock worth $18,193,421. 6.70% of the stock is owned by company insiders.

PBF Energy Stock Down 0.3%

Shares of NYSE PBF opened at $34.59 on Wednesday. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $41.47. The firm’s 50-day simple moving average is $33.31 and its 200 day simple moving average is $27.29. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -7.44 and a beta of 0.42.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the previous year, the firm posted ($1.50) earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. On average, research analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, November 14th. PBF Energy’s payout ratio is -23.66%.

About PBF Energy

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.