Burney Co. Sells 3,615 Shares of PBF Energy Inc. (NYSE:PBF)

Burney Co. reduced its stake in PBF Energy Inc. (NYSE:PBF) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,762 shares of the oil and gas company’s stock after selling 3,615 shares during the period. Burney Co.’s holdings in PBF Energy were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 803 shares during the period. Allworth Financial LP raised its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares in the last quarter. Parallel Advisors LLC raised its position in PBF Energy by 80.4% during the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 1,085 shares in the last quarter. Golden State Wealth Management LLC raised its position in PBF Energy by 43.5% during the first quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in PBF Energy by 61.7% during the first quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 1,320 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Stock Up 3.6%

Shares of NYSE:PBF opened at $24.17 on Friday. The company has a fifty day moving average of $22.40 and a 200-day moving average of $22.14. The company has a market capitalization of $2.80 billion, a PE ratio of -2.66 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $42.64.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. PBF Energy’s revenue for the quarter was down 18.3% on a year-over-year basis. On average, equities analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.55%. PBF Energy’s dividend payout ratio is -12.09%.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the purchase, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PBF. Piper Sandler boosted their price objective on shares of PBF Energy from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Tuesday. Scotiabank restated a “sector perform” rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Citigroup boosted their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, UBS Group upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.08.

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.