Mutual of America Capital Management LLC Sells 6,599 Shares of PBF Energy Inc. (NYSE:PBF)

Mutual of America Capital Management LLC reduced its stake in shares of PBF Energy Inc. (NYSE:PBF) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,819 shares of the oil and gas company’s stock after selling 6,599 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PBF Energy were worth $1,666,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in PBF Energy in the second quarter worth $26,000. CWM LLC grew its stake in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after buying an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in PBF Energy during the 3rd quarter valued at about $59,000. Blue Trust Inc. raised its stake in PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 2,027 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in PBF Energy by 27.9% in the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 0.7 %

PBF Energy stock opened at $31.78 on Tuesday. The business’s 50-day moving average price is $31.56 and its 200 day moving average price is $37.60. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -12.27 and a beta of 1.56. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.61 earnings per share. As a group, sell-side analysts anticipate that PBF Energy Inc. will post -2.79 earnings per share for the current year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -42.47%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $42.00 to $35.00 in a report on Friday, October 4th. UBS Group decreased their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Scotiabank reduced their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.18.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were purchased at an average price of $31.28 per share, with a total value of $3,128,000.00. Following the purchase, the insider now owns 26,532,498 shares of the company’s stock, valued at $829,936,537.44. The trade was a 0.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 4,592,400 shares of company stock valued at $145,300,797. 6.20% of the stock is owned by company insiders.

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.