William Blair Investment Management LLC Sells 86,741 Shares of PBF Energy Inc. $PBF

William Blair Investment Management LLC reduced its holdings in PBF Energy Inc. (NYSE:PBF) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 846,054 shares of the oil and gas company’s stock after selling 86,741 shares during the period. William Blair Investment Management LLC’s holdings in PBF Energy were worth $22,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its position in PBF Energy by 7.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock worth $16,519,000 after buying an additional 40,129 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in PBF Energy in the 3rd quarter worth approximately $823,000. Allianz Asset Management GmbH increased its position in PBF Energy by 1,232.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company’s stock worth $8,058,000 after buying an additional 247,039 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in PBF Energy by 264.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock worth $2,922,000 after buying an additional 70,312 shares during the period. Finally, Quantbot Technologies LP bought a new position in PBF Energy in the 3rd quarter worth approximately $1,546,000. 96.29% of the stock is owned by institutional investors.

PBF Energy Price Performance

Shares of PBF stock opened at $40.25 on Tuesday. The stock’s fifty day simple moving average is $43.33 and its 200 day simple moving average is $37.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.15 and a beta of 0.15. PBF Energy Inc. has a one year low of $17.53 and a one year high of $52.18.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. PBF Energy’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.53) EPS. On average, analysts expect that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be given a $0.275 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 2.7%. PBF Energy’s payout ratio is presently 29.65%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00. Following the completion of the transaction, the insider owned 22,996,898 shares in the company, valued at approximately $1,062,686,656.58. The trade was a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 9,668,525 shares of company stock valued at $445,714,251. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Mizuho boosted their price target on PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Citigroup boosted their price target on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Piper Sandler boosted their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $35.92.

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.