IPG Investment Advisors LLC Reduces Holdings in PBF Energy Inc. (NYSE:PBF)

IPG Investment Advisors LLC decreased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 74.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the oil and gas company’s stock after selling 64,000 shares during the period. IPG Investment Advisors LLC’s holdings in PBF Energy were worth $584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC grew its holdings in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the period. Quarry LP purchased a new stake in PBF Energy in the third quarter worth $48,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the fourth quarter valued at $61,000. EverSource Wealth Advisors LLC boosted its holdings in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of PBF Energy in the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Down 1.9 %

PBF stock opened at $18.98 on Friday. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -4.03 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy Inc. has a 1-year low of $18.82 and a 1-year high of $62.88. The business has a 50 day simple moving average of $24.28 and a two-hundred day simple moving average of $28.21.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.80%. The ex-dividend date was Thursday, February 27th. PBF Energy’s dividend payout ratio is presently -23.35%.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective 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. Morgan Stanley cut their target price on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Piper Sandler cut their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. TD Cowen cut their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group lowered their price objective on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, PBF Energy has a consensus rating of “Hold” and an average target price of $26.36.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 100,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were purchased at an average price of $29.60 per share, with a total value of $2,960,000.00. Following the transaction, the insider now owns 29,084,998 shares in the company, valued at $860,915,940.80. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 651,000 shares of company stock worth $17,480,400 over the last 90 days. 5.30% of the stock is owned by insiders.

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.