Rhumbline Advisers Has $9.53 Million Holdings in PBF Energy Inc. (NYSE:PBF)

Rhumbline Advisers cut its position in shares of PBF Energy Inc. (NYSE:PBF) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 359,026 shares of the oil and gas company’s stock after selling 1,229 shares during the period. Rhumbline Advisers’ holdings in PBF Energy were worth $9,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP purchased a new stake in shares of PBF Energy in the third quarter valued at $48,000. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy in the third quarter worth $59,000. Blue Trust Inc. grew its holdings in shares of PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 2,027 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in PBF Energy during the 4th quarter valued at about $61,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 409,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the transaction, the insider now owns 27,368,498 shares of the company’s stock, valued at approximately $864,297,166.84. This represents a 1.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders acquired 1,811,500 shares of company stock valued at $53,541,910. 5.30% of the stock is owned by company insiders.

PBF Energy Stock Performance

NYSE:PBF opened at $23.11 on Tuesday. The firm has a market capitalization of $2.66 billion, a PE ratio of -4.91 and a beta of 1.60. PBF Energy Inc. has a 1 year low of $22.03 and a 1 year high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm’s fifty day simple moving average is $27.40 and its 200 day simple moving average is $30.47.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. On average, sell-side analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.76%. PBF Energy’s dividend payout ratio (DPR) is presently -23.35%.

Analysts Set New Price Targets

PBF has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and lowered their target price for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.55.

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.