The Manufacturers Life Insurance Company Sells 6,243 Shares of PBF Energy Inc. (NYSE:PBF)

The Manufacturers Life Insurance Company lowered its stake in PBF Energy Inc. (NYSE:PBF) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,752 shares of the oil and gas company’s stock after selling 6,243 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in PBF Energy were worth $2,994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PBF. T. Rowe Price Investment Management Inc. raised its holdings in shares of PBF Energy by 150.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock valued at $56,191,000 after purchasing an additional 1,272,254 shares during the period. Norges Bank acquired a new position in PBF Energy during the 4th quarter worth approximately $20,896,000. JPMorgan Chase & Co. raised its stake in PBF Energy by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock worth $39,628,000 after buying an additional 562,287 shares during the period. Van ECK Associates Corp grew its stake in 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 acquiring an additional 392,776 shares during the period. Finally, Private Management Group Inc. grew its stake in PBF Energy by 24.6% in the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company’s stock valued at $28,071,000 after acquiring an additional 208,599 shares during the period. 96.29% of the stock is owned by institutional investors.

PBF Energy Stock Performance

Shares of PBF stock opened at $20.31 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -4.31 and a beta of 0.76. PBF Energy Inc. has a 52 week low of $13.62 and a 52 week high of $51.63. The firm’s 50-day simple moving average is $17.99 and its two-hundred day simple moving average is $24.79.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. PBF Energy’s revenue for the quarter was down 18.3% on a year-over-year basis. As a group, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 15th. PBF Energy’s dividend payout ratio (DPR) is currently -12.09%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 15,000 shares of the stock in a transaction on Wednesday, April 9th. The shares were acquired at an average price of $13.98 per share, with a total value of $209,700.00. Following the acquisition, the insider now directly owns 30,757,998 shares of the company’s stock, valued at $429,996,812.04. The trade was a 0.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have bought 331,000 shares of company stock worth $6,075,180. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PBF. Morgan Stanley lowered their target price on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. TD Cowen reduced their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on shares of 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 target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Finally, Mizuho lowered their price objective on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, April 1st. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.82.

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.