PBF Energy Inc. (NYSE:PBF) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in PBF Energy Inc. (NYSE:PBF) by 10.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,092 shares of the oil and gas company’s stock after selling 14,437 shares during the quarter. New York State Teachers Retirement System owned 0.11% of PBF Energy worth $4,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norden Group LLC acquired a new position in PBF Energy in the first quarter valued at $212,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PBF Energy by 6.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,073 shares of the oil and gas company’s stock valued at $3,171,000 after purchasing an additional 3,474 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of PBF Energy by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 95,185 shares of the oil and gas company’s stock worth $5,480,000 after acquiring an additional 1,232 shares in the last quarter. Sciencast Management LP purchased a new position in PBF Energy in the 1st quarter valued at approximately $318,000. Finally, SG Americas Securities LLC raised its position in PBF Energy by 14,785.7% during the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock worth $31,262,000 after acquiring an additional 539,381 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PBF has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Wells Fargo & Company reduced their price target on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Bank of America began coverage on PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective for the company. Finally, TD Cowen lowered their target price on PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and a consensus target price of $34.18.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $30.84 on Thursday. The company’s fifty day moving average is $31.94 and its two-hundred day moving average is $39.79. The company has a market cap of $3.61 billion, a P/E ratio of -11.91 and a beta of 1.56. PBF Energy Inc. has a 12-month low of $27.94 and a 12-month high of $62.88. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the firm posted $6.61 earnings per share. The firm’s quarterly revenue was down 21.9% on a year-over-year basis. Equities analysts expect that PBF Energy Inc. will post -2.42 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Energy’s dividend payout ratio (DPR) is currently -38.61%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 805,300 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was bought at an average price of $32.62 per share, with a total value of $26,268,886.00. Following the purchase, the insider now directly owns 20,634,898 shares of the company’s stock, valued at approximately $673,110,372.76. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have purchased 4,407,400 shares of company stock valued at $139,761,347. Corporate insiders own 6.20% of the company’s stock.

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.