Cresset Asset Management LLC Sells 640 Shares of PBF Energy Inc. (NYSE:PBF)

Cresset Asset Management LLC lowered its position in PBF Energy Inc. (NYSE:PBF) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,316 shares of the oil and gas company’s stock after selling 640 shares during the quarter. Cresset Asset Management LLC’s holdings in PBF Energy were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PBF. Golden State Wealth Management LLC bought a new stake in shares of PBF Energy in the 4th quarter worth approximately $61,000. EverSource Wealth Advisors LLC raised its holdings in shares of PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after buying an additional 614 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of PBF Energy in the 4th quarter worth approximately $68,000. Spire Wealth Management raised its holdings in shares of PBF Energy by 28.2% in the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after buying an additional 585 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of PBF Energy by 58.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,995 shares of the oil and gas company’s stock worth $80,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PBF. TD Cowen dropped their target price on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Mizuho increased their target price on PBF Energy from $22.00 to $23.00 and gave the stock an “underperform” rating in a report on Tuesday. Scotiabank dropped their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. UBS Group raised PBF Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $26.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.91.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 15,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was bought at an average price of $14.44 per share, for a total transaction of $216,600.00. Following the completion of the transaction, the insider now directly owns 30,774,998 shares in the company, valued at $444,390,971.12. The trade was a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 331,000 shares of company stock worth $6,075,180 over the last 90 days. 5.30% of the stock is owned by insiders.

PBF Energy Trading Up 10.2%

Shares of PBF opened at $22.92 on Wednesday. The stock has a fifty day moving average price of $18.05 and a two-hundred day moving average price of $24.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. PBF Energy Inc. has a 52-week low of $13.62 and a 52-week high of $51.63. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -4.87 and a beta of 0.76.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. Analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.80%. PBF Energy’s payout ratio is currently -12.09%.

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.