Vestcor Inc Sells 912 Shares of PBF Energy Inc. (NYSE:PBF)

Vestcor Inc trimmed its position in shares of PBF Energy Inc. (NYSE:PBF) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,800 shares of the oil and gas company’s stock after selling 912 shares during the quarter. Vestcor Inc’s holdings in PBF Energy were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC lifted its position in PBF Energy by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock valued at $1,084,000 after acquiring an additional 459 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 585 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 614 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PBF Energy by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company’s stock worth $782,000 after purchasing an additional 620 shares in the last quarter. Finally, Hancock Whitney Corp grew its stake in PBF Energy by 9.6% during the 3rd quarter. Hancock Whitney Corp now owns 11,030 shares of the oil and gas company’s stock worth $341,000 after buying an additional 968 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 7.4 %

Shares of NYSE:PBF opened at $22.29 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 12-month low of $18.97 and a 12-month high of $62.88. The business has a 50 day moving average of $25.84 and a two-hundred day moving average of $28.98. The company has a market capitalization of $2.57 billion, a PE ratio of -4.73 and a beta of 1.62.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. As a group, analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is currently -23.35%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 341,500 shares of PBF Energy stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the transaction, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired 1,062,500 shares of company stock worth $28,442,290 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler decreased their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. UBS Group lowered their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Finally, TD Cowen dropped their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and an average target price of $27.36.

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.