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

Private Management Group Inc. trimmed its position in shares of PBF Energy Inc. (NYSE:PBF) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 706,461 shares of the oil and gas company’s stock after selling 3,611 shares during the quarter. PBF Energy accounts for 1.2% of Private Management Group Inc.’s investment portfolio, making the stock its 27th largest holding. Private Management Group Inc. owned 0.58% of PBF Energy worth $31,056,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of PBF Energy by 39.8% during the third 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 during the last quarter. Fortitude Family Office LLC bought a new position in PBF Energy during the 4th quarter valued at $44,000. DekaBank Deutsche Girozentrale purchased a new position in PBF Energy during the 4th quarter worth $73,000. Headlands Technologies LLC bought a new stake in shares of PBF Energy in the 3rd quarter worth $101,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of PBF Energy in the third quarter valued at about $107,000. 96.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 12,200 shares of PBF Energy stock in a transaction on Wednesday, January 24th. The stock was acquired at an average price of $43.86 per share, with a total value of $535,092.00. Following the acquisition, the insider now directly owns 14,345,198 shares of the company’s stock, valued at $629,180,384.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Control Empresarial De Capital bought 12,200 shares of the stock in a transaction on Wednesday, January 24th. The shares were acquired at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the purchase, the insider now directly owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were 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 of the company’s stock, valued at $6,255,829.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,000 shares of company stock valued at $10,074,600. Corporate insiders own 6.20% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF traded up $0.85 on Tuesday, reaching $57.40. 1,277,574 shares of the company’s stock were exchanged, compared to its average volume of 2,196,842. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 3.49 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. The stock has a fifty day simple moving average of $54.02 and a 200-day simple moving average of $48.54. PBF Energy Inc. has a 52 week low of $31.25 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last released its quarterly earnings data 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). PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. During the same period last year, the business posted $4.41 earnings per share. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that PBF Energy Inc. will post 7.21 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. PBF Energy’s payout ratio is 6.08%.

Analyst Ratings Changes

PBF has been the topic of several analyst reports. Citigroup started coverage on shares of PBF Energy in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. Scotiabank upped their target price on PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $74.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. boosted their price objective on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Piper Sandler raised their target price on PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus target price of $57.55.

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.