PBF Energy Inc. (NYSE:PBF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 36.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,251 shares of the oil and gas company’s stock after selling 23,536 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PBF Energy were worth $1,898,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PBF. Banque Cantonale Vaudoise raised its holdings in PBF Energy by 10.4% during the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 172 shares in the last quarter. GAMMA Investing LLC raised its holdings in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares in the last quarter. Retirement Systems of Alabama raised its holdings in PBF Energy by 0.3% during the first quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company’s stock worth $7,863,000 after purchasing an additional 359 shares in the last quarter. US Bancorp DE raised its holdings in PBF Energy by 5.3% during the first quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock worth $452,000 after purchasing an additional 395 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in PBF Energy during the first quarter worth about $27,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 140,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $45.73 per share, with a total value of $6,402,200.00. Following the purchase, the insider now directly owns 17,772,598 shares in the company, valued at approximately $812,740,906.54. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 2,584,300 shares of company stock valued at $88,958,546 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. The Goldman Sachs Group cut their price target on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, July 1st. UBS Group cut their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their target price on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Scotiabank dropped their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.91.

PBF Energy Trading Down 5.5 %

Shares of PBF opened at $32.02 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $35.70 and a 200-day simple moving average of $45.55. PBF Energy Inc. has a 1-year low of $30.61 and a 1-year high of $62.88. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 2.22 and a beta of 1.56.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period last year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts forecast that PBF Energy Inc. will post 1.25 EPS for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

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.