PBF Energy Inc. (NYSE:PBF) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in PBF Energy Inc. (NYSE:PBF) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,982 shares of the oil and gas company’s stock after selling 1,981 shares during the quarter. Retirement Systems of Alabama’s holdings in PBF Energy were worth $3,159,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in PBF Energy by 391.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock worth $47,663,000 after purchasing an additional 1,226,909 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares during the period. Private Management Group Inc. boosted its stake in shares of PBF Energy by 27.5% during the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock valued at $26,267,000 after buying an additional 183,183 shares during the period. Hara Capital LLC boosted its stake in shares of PBF Energy by 28.9% during the 3rd quarter. Hara Capital LLC now owns 506,317 shares of the oil and gas company’s stock valued at $15,670,000 after buying an additional 113,519 shares during the period. Finally, Recurrent Investment Advisors LLC acquired a new stake in shares of PBF Energy during the 3rd quarter valued at $11,516,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Up 0.1 %

Shares of NYSE PBF opened at $28.73 on Wednesday. The company has a market capitalization of $3.31 billion, a P/E ratio of -11.09 and a beta of 1.60. PBF Energy Inc. has a 52-week low of $24.21 and a 52-week high of $62.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The company’s 50 day moving average price is $28.58 and its 200-day moving average price is $31.44.

Wall Street Analysts Forecast Growth

PBF has been the subject of several analyst reports. Bank of America initiated coverage on shares of PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective for the company. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and dropped their target price for the stock from $27.00 to $20.00 in a report on Friday, December 20th. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Wells Fargo & Company cut shares of PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lowered their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average price target of $32.00.

Insider Activity

In other news, insider Control Empresarial De Capital bought 409,000 shares of PBF Energy stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $31.58 per share, for a total transaction of $12,916,220.00. Following the purchase, the insider now directly owns 27,368,498 shares in the company, valued at $864,297,166.84. The trade was a 1.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 1,968,500 shares of company stock worth $58,476,810 in the last quarter. 5.30% of the stock is owned by corporate insiders.

PBF Energy Company 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.