California Public Employees Retirement System Has $9.66 Million Position in PBF Energy Inc. (NYSE:PBF)

California Public Employees Retirement System reduced its stake in PBF Energy Inc. (NYSE:PBFFree Report) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,773 shares of the oil and gas company’s stock after selling 10,759 shares during the period. California Public Employees Retirement System owned about 0.18% of PBF Energy worth $9,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PBF. Fifth Third Bancorp boosted its stake in shares of PBF Energy by 39.8% in the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 230 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in PBF Energy during the 4th quarter worth approximately $44,000. DekaBank Deutsche Girozentrale acquired a new stake in PBF Energy during the 4th quarter worth approximately $73,000. Headlands Technologies LLC acquired a new stake in PBF Energy during the 3rd quarter worth approximately $101,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in PBF Energy during the 3rd quarter worth approximately $107,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,958,084.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares of the company’s stock, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,000 shares of company stock worth $10,074,600. 5.30% of the stock is owned by corporate insiders.

PBF Energy Stock Performance

NYSE:PBF opened at $52.60 on Friday. The company has a fifty day moving average of $54.99 and a 200-day moving average of $48.93. The firm has a market capitalization of $6.29 billion, a P/E ratio of 3.20 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. PBF Energy Inc. has a twelve month low of $31.25 and a twelve month high of $62.88.

PBF Energy (NYSE:PBFGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The business’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.41 EPS. As a group, sell-side analysts anticipate that PBF Energy Inc. will post 7.39 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. PBF Energy’s dividend payout ratio (DPR) is presently 6.08%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PBF. Citigroup began coverage on shares of PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Scotiabank boosted their price target on shares of PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. TD Cowen boosted their price target on shares of PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Finally, Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $74.00 in a research report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.55.

Read Our Latest Stock Analysis on PBF

PBF Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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