Arizona State Retirement System Sells 1,819 Shares of PBF Energy Inc. (NYSE:PBF)

Arizona State Retirement System decreased its position in PBF Energy Inc. (NYSE:PBF) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,200 shares of the oil and gas company’s stock after selling 1,819 shares during the period. Arizona State Retirement System’s holdings in PBF Energy were worth $722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Yousif Capital Management LLC boosted its stake in PBF Energy by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock worth $1,084,000 after purchasing an additional 459 shares in the last quarter. Spire Wealth Management boosted its stake in PBF Energy by 28.2% in the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 585 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PBF Energy by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company’s stock worth $782,000 after purchasing an additional 620 shares in the last quarter. Hancock Whitney Corp boosted its stake in PBF Energy by 9.6% in the 3rd quarter. Hancock Whitney Corp now owns 11,030 shares of the oil and gas company’s stock worth $341,000 after purchasing an additional 968 shares in the last quarter. Finally, Bfsg LLC boosted its stake in PBF Energy by 14.1% in the 4th quarter. Bfsg LLC now owns 8,125 shares of the oil and gas company’s stock worth $216,000 after purchasing an additional 1,005 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the purchase, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. This trade represents a 0.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 1,062,500 shares of company stock valued at $28,442,290. 5.30% of the stock is owned by corporate insiders.

PBF Energy Trading Up 5.2 %

PBF Energy stock opened at $20.70 on Friday. The firm has a 50 day moving average of $25.93 and a 200 day moving average of $29.10. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -4.39 and a beta of 1.62. PBF Energy Inc. has a 12-month low of $18.97 and a 12-month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is -23.35%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, UBS Group lowered their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and an average target price of $27.36.

About PBF Energy

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.