Janney Montgomery Scott LLC Sells 1,574 Shares of PBF Energy Inc. (NYSE:PBF)

Janney Montgomery Scott LLC lowered its stake in PBF Energy Inc. (NYSE:PBF – Get Rating) by 10.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,108 shares of the oil and gas company’s stock after selling 1,574 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PBF Energy were worth $496,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of PBF Energy in the 1st quarter valued at $48,000. Point72 Hong Kong Ltd bought a new stake in PBF Energy during the 1st quarter valued at $76,000. Quadrant Capital Group LLC increased its stake in PBF Energy by 17.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 433 shares in the last quarter. Ellevest Inc. increased its stake in PBF Energy by 724.0% during the 2nd quarter. Ellevest Inc. now owns 3,436 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 3,019 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in PBF Energy during the 2nd quarter valued at $102,000. Institutional investors own 90.69% of the company’s stock.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Paul T. Davis sold 117,500 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the sale, the senior vice president now directly owns 44,126 shares of the company’s stock, valued at $2,086,277.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PBF Energy news, insider John C. Barone sold 32,500 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $45.97, for a total transaction of $1,494,025.00. Following the sale, the insider now directly owns 14,662 shares of the company’s stock, valued at $674,012.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul T. Davis sold 117,500 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the sale, the senior vice president now directly owns 44,126 shares in the company, valued at $2,086,277.28. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com lowered shares of PBF Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 15th. Mizuho restated a “buy” rating and set a $50.00 price target (up previously from $43.00) on shares of PBF Energy in a research note on Tuesday, January 10th. Piper Sandler boosted their price target on shares of PBF Energy from $53.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, November 9th. Morgan Stanley boosted their price target on shares of PBF Energy from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on shares of PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.69.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $42.37 on Monday. The company’s 50-day moving average is $40.11 and its 200 day moving average is $37.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.72 and a current ratio of 1.21. The company has a market capitalization of $5.19 billion, a P/E ratio of 2.20 and a beta of 1.92. PBF Energy Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $49.00.

PBF Energy (NYSE:PBF – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $1.93. The company had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $10.12 billion. PBF Energy had a net margin of 5.44% and a return on equity of 73.75%. On average, equities research analysts forecast that PBF Energy Inc. will post 23.56 earnings per share for the current year.

PBF Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, November 10th. PBF Energy’s dividend payout ratio (DPR) is presently 4.16%.

PBF Energy Profile

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PBF Energy Inc, together with 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.