IPG Investment Advisors LLC Sells 64,000 Shares of PBF Energy Inc. (NYSE:PBF)

IPG Investment Advisors LLC decreased its position in shares of PBF Energy Inc. (NYSE:PBF) by 74.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the oil and gas company’s stock after selling 64,000 shares during the quarter. IPG Investment Advisors LLC’s holdings in PBF Energy were worth $584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. Fortitude Family Office LLC grew its holdings in PBF Energy by 968.8% in the fourth 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 last quarter. Quarry LP acquired a new stake in shares of PBF Energy in the 3rd quarter worth $48,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the 4th quarter worth $61,000. EverSource Wealth Advisors LLC increased its position in PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in PBF Energy in the fourth quarter valued at about $68,000. 96.29% of the stock is currently owned by institutional investors.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 155,000 shares of PBF Energy stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the purchase, the insider now owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. The trade was a 0.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have bought 651,000 shares of company stock worth $17,480,400. 5.30% of the stock is currently owned by company insiders.

PBF Energy Trading Down 1.9 %

Shares of PBF opened at $18.98 on Friday. 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 has a 50-day moving average price of $24.28 and a 200 day moving average price of $28.21. PBF Energy Inc. has a 12-month low of $18.82 and a 12-month high of $62.88. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.03 and a beta of 1.62.

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

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is -23.35%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Piper Sandler cut their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company dropped their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. UBS Group reduced their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.36.

PBF Energy Company 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.