PBF Energy Inc. $PBF Shares Sold by Towle & Co.

Towle & Co. lowered its position in shares of PBF Energy Inc. (NYSE:PBF) by 35.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 248,995 shares of the oil and gas company’s stock after selling 137,839 shares during the period. PBF Energy accounts for 4.6% of Towle & Co.’s portfolio, making the stock its biggest holding. Towle & Co.’s holdings in PBF Energy were worth $11,857,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of PBF Energy by 63.6% during the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after buying an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PBF Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after acquiring an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in PBF Energy by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after acquiring an additional 12,289 shares during the period. Acadian Asset Management LLC boosted its position in PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of PBF Energy in the second quarter worth $1,143,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Trading Down 3.9%

Shares of NYSE:PBF opened at $61.83 on Friday. The firm has a market capitalization of $7.31 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.15 and a beta of 0.11. PBF Energy Inc. has a 12-month low of $21.24 and a 12-month high of $68.33. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $46.28 and a two-hundred day moving average of $41.49.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the prior year, the business posted ($3.53) EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts expect that PBF Energy Inc. will post 10.94 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. PBF Energy’s dividend payout ratio is 29.65%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 100,000 shares of PBF Energy stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $54.52, for a total transaction of $5,452,000.00. Following the sale, the insider owned 15,712,128 shares of the company’s stock, valued at approximately $856,625,218.56. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 3,541,570 shares of company stock valued at $165,787,386 in the last three months. 5.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PBF. Evercore started coverage on PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 price target on the stock. Citigroup raised their target price on shares of PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Morgan Stanley boosted their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. Mizuho upped their price target on shares of PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Freedom Capital upgraded shares of PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $43.92.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.