New York State Teachers Retirement System Lowers Holdings in PBF Energy Inc. $PBF

New York State Teachers Retirement System decreased its position in PBF Energy Inc. (NYSE:PBF) by 27.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,651 shares of the oil and gas company’s stock after selling 32,041 shares during the period. New York State Teachers Retirement System’s holdings in PBF Energy were worth $4,126,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Leonteq Securities AG bought a new stake in PBF Energy during the 1st quarter valued at about $33,000. Torren Management LLC bought a new position in shares of PBF Energy in the fourth quarter worth approximately $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PBF Energy during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its holdings in shares of PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $57,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets upped their price objective on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. Mizuho lifted their price objective on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, TD Cowen upgraded shares of PBF Energy from a “sell” rating to a “hold” rating and upped their target price for the company from $36.00 to $39.00 in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $36.69.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 200,000 shares of PBF Energy stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $49.14, for a total transaction of $9,828,000.00. Following the transaction, the insider owned 16,462,128 shares of the company’s stock, valued at $808,948,969.92. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 2,791,570 shares of company stock worth $126,106,586. 5.50% of the stock is currently owned by company insiders.

PBF Energy Price Performance

NYSE PBF opened at $52.89 on Thursday. The business’s fifty day moving average is $42.29 and its 200 day moving average is $38.89. PBF Energy Inc. has a fifty-two week low of $21.24 and a fifty-two week high of $53.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The company has a market capitalization of $6.26 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the previous year, the company earned ($3.53) EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that PBF Energy Inc. will post 8.55 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.