Victory Capital Management Inc. trimmed its position in shares of PBF Energy Inc (NYSE:PBF) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,322 shares of the oil and gas company’s stock after selling 103,010 shares during the quarter. Victory Capital Management Inc.’s holdings in PBF Energy were worth $11,533,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of PBF Energy by 48.0% during the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after purchasing an additional 1,611,707 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of PBF Energy during the third quarter valued at about $838,000. Northern Trust Corp boosted its stake in shares of PBF Energy by 63.2% during the second quarter. Northern Trust Corp now owns 998,936 shares of the oil and gas company’s stock valued at $22,237,000 after purchasing an additional 386,930 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of PBF Energy by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 2,018,212 shares of the oil and gas company’s stock valued at $55,722,000 after purchasing an additional 50,806 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of PBF Energy during the second quarter valued at about $715,000.
PBF has been the topic of a number of recent research reports. Zacks Investment Research raised PBF Energy from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Saturday, December 23rd. Morgan Stanley lowered PBF Energy from an “equal weight” rating to an “underweight” rating and set a $37.00 price objective on the stock. in a research note on Thursday, January 11th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $30.00 price objective on shares of PBF Energy in a research note on Tuesday, November 7th. Goldman Sachs Group lowered PBF Energy from a “neutral” rating to a “sell” rating in a research note on Tuesday, November 28th. Finally, Tudor Pickering raised PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. PBF Energy presently has an average rating of “Hold” and an average target price of $32.30.
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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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