Soviero Asset Management LP Has $3.98 Million Stock Holdings in PBF Energy Inc. (NYSE:PBF)

Soviero Asset Management LP cut its stake in shares of PBF Energy Inc. (NYSE:PBF) by 63.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,000 shares of the oil and gas company’s stock after selling 261,000 shares during the period. PBF Energy accounts for about 2.5% of Soviero Asset Management LP’s investment portfolio, making the stock its 16th biggest holding. Soviero Asset Management LP owned 0.13% of PBF Energy worth $3,982,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PBF. Van ECK Associates Corp lifted its position in shares of PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after buying an additional 392,776 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in PBF Energy by 5.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the oil and gas company’s stock worth $8,929,000 after acquiring an additional 17,400 shares during the period. Norges Bank bought a new position in PBF Energy during the 4th quarter worth $20,896,000. Heartland Advisors Inc. bought a new position in PBF Energy during the 4th quarter worth $1,420,000. Finally, Raymond James Financial Inc. bought a new position in PBF Energy during the 4th quarter worth $1,654,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital acquired 16,000 shares of the stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of $13.88 per share, with a total value of $222,080.00. Following the transaction, the insider now owns 30,737,998 shares in the company, valued at approximately $426,643,412.24. The trade was a 0.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 331,000 shares of company stock valued at $6,075,180. 5.30% of the stock is currently owned by company insiders.

PBF Energy Stock Down 0.2%

Shares of PBF opened at $22.35 on Monday. The company has a market capitalization of $2.58 billion, a PE ratio of -4.74 and a beta of 0.76. PBF Energy Inc. has a 12 month low of $13.62 and a 12 month high of $51.47. The stock’s 50-day moving average price is $18.15 and its two-hundred day moving average price is $24.42. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. On average, analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy’s payout ratio is presently -12.09%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of recent research reports. TD Cowen lowered their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group cut their price objective on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company cut their price objective on PBF Energy from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Finally, Piper Sandler cut their price objective on PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.91.

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.