10,900 PBF Energy Inc. $PBF Shares Sold by Venture Visionary Partners LLC

Venture Visionary Partners LLC lowered its stake in PBF Energy Inc. (NYSE:PBF) by 70.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,544 shares of the oil and gas company’s stock after selling 10,900 shares during the period. Venture Visionary Partners LLC’s holdings in PBF Energy were worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after acquiring an additional 454,731 shares in the last quarter. Empowered Funds LLC grew its position in PBF Energy by 198.0% during the 1st quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after acquiring an additional 236,418 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in PBF Energy during the 1st quarter worth $8,527,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in PBF Energy by 361.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock worth $8,718,000 after purchasing an additional 148,124 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Key PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Mizuho raised its price target to $89 from $65 while maintaining a neutral rating, implying limited additional upside but acknowledging PBF Energy’s strong recent performance. Related market article
• Positive Sentiment: PBF Energy’s latest reported quarter showed exceptionally strong operating momentum, with adjusted earnings of $7.54 per share and a gross refining margin of $23.40 per barrel. The company is scheduled to report third-quarter results on October 29.
• Positive Sentiment: Several major institutional investors increased their PBF positions in the second quarter, including FMR, AQR, BlackRock and T. Rowe Price. PBF also trades at a relatively low valuation, with a reported forward earnings multiple below 8.
• Neutral Sentiment: President Donald Trump said Russia may send millions of tons of diesel to global markets. Increased diesel availability could ease fuel prices, but it may also affect refined-product prices and refining margins; the impact on PBF Energy is uncertain. Trump says Russia may send diesel article
• Negative Sentiment: There was no new company-specific operational problem identified. The decline appears tied largely to profit-taking after a substantial refining-sector advance, softer crude prices and concerns that unusually high crack spreads may not persist until the next earnings report.
• Negative Sentiment: Insider selling remains a notable concern. Control Empresarial De Capital sold 120,000 shares for approximately $10.1 million and has made multiple recent sales. Quiver data also indicates 64 insider sales and no purchases over the past six months, potentially signaling that some insiders view the recent rally as an opportunity to lock in gains. PBF insider sale article
• Negative Sentiment: PBF Energy’s previously issued $500 million of 0% exchangeable notes due 2032 could create future dilution or capital-structure concerns, adding caution after the stock’s rapid appreciation.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 490,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. Following the sale, the insider directly owned 14,992,128 shares of the company’s stock, valued at approximately $1,068,339,041.28. This represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas J. Nimbley sold 468,139 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the sale, the director owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,196,374 shares of company stock worth $303,792,637. 5.50% of the stock is currently owned by insiders.

PBF Energy Stock Down 5.8%

Shares of PBF opened at $84.18 on Friday. The stock’s 50-day moving average price is $73.74 and its two-hundred day moving average price is $55.94. PBF Energy Inc. has a 12 month low of $25.62 and a 12 month high of $89.48. The company has a market capitalization of $9.98 billion, a PE ratio of 7.45, a PEG ratio of 0.07 and a beta of 0.18. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The company had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the firm posted ($1.03) earnings per share. The business’s quarterly revenue was up 56.2% on a year-over-year basis. On average, analysts anticipate that PBF Energy Inc. will post 24.69 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.2750 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio is currently 9.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. The Goldman Sachs Group upped their price objective on PBF Energy from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings upgraded shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of PBF Energy in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $65.55.

About PBF Energy

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.