Private Management Group Inc. Sells 3,611 Shares of PBF Energy Inc. (NYSE:PBF)

Private Management Group Inc. reduced its position in PBF Energy Inc. (NYSE:PBF) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 706,461 shares of the oil and gas company’s stock after selling 3,611 shares during the period. PBF Energy makes up 1.2% of Private Management Group Inc.’s portfolio, making the stock its 27th biggest position. Private Management Group Inc.’s holdings in PBF Energy were worth $31,056,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp lifted its holdings in PBF Energy by 39.8% during the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 230 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of PBF Energy during the fourth quarter worth approximately $44,000. DekaBank Deutsche Girozentrale bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $73,000. Headlands Technologies LLC bought a new position in PBF Energy in the third quarter worth approximately $101,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in PBF Energy during the 3rd quarter worth $107,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

PBF Energy stock traded up $0.85 during midday trading on Tuesday, hitting $57.40. 1,277,574 shares of the company were exchanged, compared to its average volume of 2,196,842. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. The firm has a market capitalization of $6.86 billion, a PE ratio of 3.49 and a beta of 1.73. The business has a fifty day simple moving average of $54.02 and a two-hundred day simple moving average of $48.54. PBF Energy Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.41 EPS. On average, sell-side analysts forecast that PBF Energy Inc. will post 7.21 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is presently 6.08%.

Insider Activity

In other news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the transaction, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the sale, the senior vice president now directly owns 160,338 shares in the company, valued at approximately $8,958,084.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the transaction, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock worth $10,074,600 over the last three months. 6.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PBF. TD Cowen upped their target price on PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Scotiabank upped their price objective on shares of PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and raised their target price for the company from $53.00 to $58.00 in a research report on Friday, March 22nd. Citigroup initiated coverage on shares of PBF Energy in a report on Wednesday, January 24th. They issued a “neutral” rating for the company. Finally, Piper Sandler increased their price objective on shares of PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.55.

PBF Energy Company 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.