BlackRock Advisors LLC Has $1,258,000 Position in PBF Energy Inc. (PBF)

BlackRock Advisors LLC Has $1,258,000 Position in PBF Energy Inc. (PBF)

BlackRock Advisors LLC reduced its position in shares of PBF Energy Inc. (NYSE:PBF) by 66.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,571 shares of the company’s stock after selling 109,700 shares during the period. BlackRock Advisors LLC owned 0.06% of PBF Energy worth $1,258,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PBF. Virginia Retirement Systems ET AL acquired a new position in PBF Energy during the second quarter worth approximately $1,187,000. Teacher Retirement System of Texas increased its position in PBF Energy by 14.9% in the second quarter. Teacher Retirement System of Texas now owns 13,726 shares of the company’s stock worth $326,000 after buying an additional 1,782 shares during the last quarter. Icon Advisers Inc. Co. increased its position in PBF Energy by 17.5% in the second quarter. Icon Advisers Inc. Co. now owns 416,700 shares of the company’s stock worth $9,909,000 after buying an additional 62,100 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in PBF Energy by 7.2% in the second quarter. UBS Asset Management Americas Inc. now owns 100,882 shares of the company’s stock worth $2,398,000 after buying an additional 6,783 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in PBF Energy by 24.4% in the second quarter. Nationwide Fund Advisors now owns 59,841 shares of the company’s stock worth $1,423,000 after buying an additional 11,745 shares during the last quarter. 92.81% of the stock is currently owned by institutional investors.

Shares of PBF Energy Inc. (NYSE:PBF) traded down 1.47% during trading on Friday, reaching $23.43. The company had a trading volume of 1,050,212 shares. PBF Energy Inc. has a 12 month low of $19.47 and a 12 month high of $35.67. The stock’s 50-day moving average price is $26.19 and its 200-day moving average price is $23.62. The stock’s market capitalization is $2.30 billion.

PBF Energy (NYSE:PBF) last posted its earnings results on Friday, October 28th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.60. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.23 billion. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 0.11%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. Equities analysts forecast that PBF Energy Inc. will post ($1.10) earnings per share for the current fiscal year.

A number of research firms recently issued reports on PBF. Barclays PLC downgraded PBF Energy from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $26.00 to $19.00 in a research note on Monday, October 10th. Credit Suisse Group downgraded PBF Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $28.00 to $22.00 in a research note on Tuesday, October 11th. Wolfe Research upgraded PBF Energy from a “peer perform” rating to an “outperform” rating in a research note on Monday, November 14th. Zacks Investment Research upgraded PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, October 22nd. Finally, Howard Weil downgraded PBF Energy from a “focus stock” rating to a “sector outperform” rating and dropped their price target for the stock from $29.00 to $24.00 in a research note on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.25.

About PBF Energy

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

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