Federated Hermes Inc. Sells 35,236 Shares of PBF Energy Inc. (NYSE:PBF)

Federated Hermes Inc. decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,101 shares of the oil and gas company’s stock after selling 35,236 shares during the period. Federated Hermes Inc. owned 0.24% of PBF Energy worth $12,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PBF Energy by 30.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,729 shares of the oil and gas company’s stock valued at $1,043,000 after purchasing an additional 5,574 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of PBF Energy by 26.8% in the 4th quarter. Mackenzie Financial Corp now owns 489,344 shares of the oil and gas company’s stock worth $21,512,000 after purchasing an additional 103,310 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in PBF Energy in the 4th quarter valued at $1,341,000. Simplicity Solutions LLC increased its stake in PBF Energy by 22.0% during the 4th quarter. Simplicity Solutions LLC now owns 6,980 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Kendall Capital Management raised its holdings in PBF Energy by 5.4% during the fourth quarter. Kendall Capital Management now owns 16,405 shares of the oil and gas company’s stock worth $721,000 after buying an additional 835 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares of the company’s stock, valued at $8,829,813.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $10,074,600 over the last ninety days. 6.20% of the stock is owned by corporate insiders.

PBF Energy Price Performance

PBF Energy stock opened at $57.40 on Wednesday. PBF Energy Inc. has a 52 week low of $31.25 and a 52 week high of $62.88. The business has a 50-day simple moving average of $54.02 and a 200 day simple moving average of $48.54. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 3.49 and a beta of 1.73.

PBF Energy (NYSE:PBF) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $8.65 billion. During the same quarter in the previous year, the firm earned $4.41 earnings per share. PBF Energy’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, research analysts forecast that PBF Energy Inc. will post 7.21 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on PBF shares. Scotiabank boosted their target price on shares of PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. TD Cowen lifted their price objective on shares of PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Citigroup initiated coverage on PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company boosted their price objective on PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, PBF Energy has an average rating of “Hold” and an average price target of $57.55.

About PBF Energy

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.