State of New Jersey Common Pension Fund D Acquires 18,173 Shares of PBF Energy Inc. (NYSE:PBF)

State of New Jersey Common Pension Fund D lifted its holdings in PBF Energy Inc. (NYSE:PBF) by 44.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,424 shares of the oil and gas company’s stock after buying an additional 18,173 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of PBF Energy worth $1,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Magnetar Financial LLC bought a new position in shares of PBF Energy in the first quarter worth about $1,394,000. Public Employees Retirement System of Ohio raised its position in PBF Energy by 720.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock worth $2,480,000 after purchasing an additional 37,826 shares during the last quarter. Dakota Wealth Management acquired a new position in PBF Energy during the 3rd quarter worth $694,000. Janus Henderson Group PLC boosted its position in PBF Energy by 957.8% in the 1st quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after buying an additional 547,509 shares during the last quarter. Finally, Symmetry Investments LP bought a new position in PBF Energy in the 2nd quarter valued at $2,464,000. 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 510,000 shares of PBF Energy stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $33.18 per share, for a total transaction of $16,921,800.00. Following the purchase, the insider now directly owns 19,129,598 shares in the company, valued at approximately $634,720,061.64. This represents a 2.74 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired 4,492,400 shares of company stock valued at $142,172,797 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

PBF Energy Trading Up 2.4 %

Shares of NYSE:PBF opened at $31.46 on Tuesday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -11.86 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’s fifty day simple moving average is $31.59 and its 200 day simple moving average is $38.42. 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 released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.61 EPS. As a group, research analysts forecast that PBF Energy Inc. will post -2.79 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.50%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is -42.47%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PBF. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $42.00 to $35.00 in a research note on Friday, October 4th. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. TD Cowen dropped their price target on shares of PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, November 1st. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and an average target price of $34.18.

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.