William Blair Investment Management LLC Lowers Holdings in PBF Energy Inc. (NYSE:PBF)

William Blair Investment Management LLC decreased its position in PBF Energy Inc. (NYSE:PBF) by 0.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 721,923 shares of the oil and gas company’s stock after selling 645 shares during the period. William Blair Investment Management LLC owned 0.60% of PBF Energy worth $41,561,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in PBF Energy by 5.3% during the third quarter. Wellington Management Group LLP now owns 342,136 shares of the oil and gas company’s stock worth $18,315,000 after buying an additional 17,197 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in PBF Energy by 57.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 43,550 shares of the oil and gas company’s stock worth $2,331,000 after buying an additional 15,910 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of PBF Energy during the third quarter worth $287,000. Diversified Trust Co increased its position in shares of PBF Energy by 10.8% during the fourth quarter. Diversified Trust Co now owns 5,464 shares of the oil and gas company’s stock worth $240,000 after purchasing an additional 532 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of PBF Energy during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

PBF traded down $0.57 during midday trading on Wednesday, hitting $39.90. 2,231,829 shares of the company were exchanged, compared to its average volume of 2,035,788. The company’s 50 day simple moving average is $45.78 and its 200 day simple moving average is $49.38. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 2.80 and a beta of 1.60. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a 1-year low of $39.54 and a 1-year high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.24. The company had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. As a group, sell-side analysts predict that PBF Energy Inc. will post 4.59 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s payout ratio is currently 6.92%.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 140,000 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $45.73 per share, with a total value of $6,402,200.00. Following the purchase, the insider now directly owns 17,772,598 shares in the company, valued at approximately $812,740,906.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought a total of 2,091,100 shares of company stock valued at $93,004,617 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group reduced their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. TD Cowen reduced their price target on PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Mizuho reduced their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, Piper Sandler cut their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.91.

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.