PBF Energy Inc. $PBF Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in PBF Energy Inc. (NYSE:PBF) by 51.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,476 shares of the oil and gas company’s stock after selling 9,997 shares during the period. Pacer Advisors Inc.’s holdings in PBF Energy were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PBF. Torren Management LLC bought a new position in PBF Energy during the 4th quarter worth $30,000. Los Angeles Capital Management LLC acquired a new position in PBF Energy in the fourth quarter worth approximately $31,000. Leonteq Securities AG acquired a new stake in PBF Energy during the 1st quarter worth about $33,000. Smartleaf Asset Management LLC raised its stake in PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of PBF Energy in the 4th quarter valued at about $57,000. Institutional investors own 96.29% of the company’s stock.

Insider Activity at PBF Energy

In other news, SVP James E. Fedena sold 24,756 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $71.83, for a total transaction of $1,778,223.48. Following the completion of the sale, the senior vice president owned 114,260 shares of the company’s stock, valued at approximately $8,207,295.80. This trade represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Nimbley sold 468,139 shares of PBF Energy stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the transaction, the director owned 793,737 shares of the company’s stock, valued at $55,196,470.98. This trade represents a 37.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,260,935 shares of company stock valued at $235,363,946. Insiders own 5.50% of the company’s stock.

PBF Energy Stock Up 4.3%

Shares of NYSE PBF opened at $69.16 on Wednesday. PBF Energy Inc. has a 52-week low of $21.82 and a 52-week high of $74.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The business has a fifty day moving average of $52.60 and a two-hundred day moving average of $44.63. The stock has a market cap of $8.20 billion, a PE ratio of 6.12, a PEG ratio of 0.08 and a beta of 0.10.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.03) EPS. As a group, equities research analysts expect that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PBF. UBS Group raised their price objective on shares of PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. The Goldman Sachs Group increased their target price on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Mizuho raised their target price on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and a consensus target price of $50.15.

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.