PBF Energy Inc. (NYSE:PBF) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in PBF Energy Inc. (NYSE:PBF – Get Rating) by 20.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,052,227 shares of the oil and gas company’s stock after selling 1,062,705 shares during the period. Bank of New York Mellon Corp’s holdings in PBF Energy were worth $142,478,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PBF. BlackRock Inc. lifted its holdings in shares of PBF Energy by 9.9% in the third quarter. BlackRock Inc. now owns 18,324,922 shares of the oil and gas company’s stock valued at $644,303,000 after purchasing an additional 1,655,097 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of PBF Energy by 388.2% in the second quarter. Millennium Management LLC now owns 1,989,509 shares of the oil and gas company’s stock valued at $57,736,000 after purchasing an additional 1,581,991 shares in the last quarter. 140 Summer Partners LP purchased a new stake in shares of PBF Energy in the second quarter valued at $45,031,000. PointState Capital LP purchased a new stake in shares of PBF Energy in the second quarter valued at $36,372,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of PBF Energy by 684.9% in the third quarter. UBS Asset Management Americas Inc. now owns 1,372,847 shares of the oil and gas company’s stock valued at $48,269,000 after purchasing an additional 1,197,940 shares in the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Wall Street Analyst Weigh In

PBF has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on PBF Energy from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, January 9th. UBS Group initiated coverage on shares of PBF Energy in a research report on Wednesday, March 8th. They set a “neutral” rating and a $53.00 target price on the stock. TheStreet downgraded shares of PBF Energy from a “b-” rating to a “c” rating in a research report on Friday, February 17th. Mizuho increased their target price on shares of PBF Energy from $50.00 to $56.00 in a research report on Friday, March 10th. Finally, Wells Fargo & Company lowered their target price on shares of PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.31.

PBF Energy Trading Down 0.3 %

Shares of NYSE:PBF opened at $40.42 on Friday. The company has a market cap of $5.21 billion, a P/E ratio of 1.78 and a beta of 1.92. The stock’s 50-day moving average is $42.27 and its 200-day moving average is $40.20. PBF Energy Inc. has a 52-week low of $20.13 and a 52-week high of $49.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 1.26.

PBF Energy (NYSE:PBF – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.95 by ($0.54). The business had revenue of $10.85 billion during the quarter, compared to analyst estimates of $9.71 billion. PBF Energy had a net margin of 6.14% and a return on equity of 72.79%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. Equities research analysts predict that PBF Energy Inc. will post 10.71 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Wednesday, March 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Tuesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is presently 3.52%.

About PBF Energy

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PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.