William Blair Investment Management LLC Cuts Position in PBF Energy Inc. (NYSE:PBF)

William Blair Investment Management LLC decreased its position in PBF Energy Inc. (NYSE:PBF) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 720,556 shares of the oil and gas company’s stock after selling 1,367 shares during the quarter. William Blair Investment Management LLC’s holdings in PBF Energy were worth $33,160,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares in the last quarter. National Bank of Canada FI purchased a new stake in PBF Energy during the 2nd quarter worth about $26,000. Rise Advisors LLC acquired a new position in shares of PBF Energy during the 1st quarter worth about $27,000. Creekmur Asset Management LLC purchased a new position in shares of PBF Energy in the 4th quarter valued at about $29,000. Finally, CWM LLC raised its position in shares of PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $32.61 on Friday. The company has a market cap of $3.82 billion, a P/E ratio of 2.26 and a beta of 1.56. The company has a 50-day moving average price of $36.51 and a 200 day moving average price of $46.07. PBF Energy Inc. has a 52 week low of $30.61 and a 52 week high of $62.88. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. Research analysts predict that PBF Energy Inc. will post 1.62 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.07%. PBF Energy’s payout ratio is currently 6.92%.

Analysts Set New Price Targets

Several equities analysts have commented on PBF shares. Wells Fargo & Company dropped their price target on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Piper Sandler decreased their price objective on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group reduced their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $52.30.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 670,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $31.29 per share, for a total transaction of $20,964,300.00. Following the acquisition, the insider now directly owns 22,527,398 shares in the company, valued at approximately $704,882,283.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders purchased 3,087,500 shares of company stock valued at $111,058,614. Corporate insiders own 5.30% of the company’s stock.

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.