New York State Teachers Retirement System Reduces Stock Holdings in PBF Energy Inc. (NYSE:PBF)

New York State Teachers Retirement System lowered its position in PBF Energy Inc. (NYSE:PBF) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,292 shares of the oil and gas company’s stock after selling 9,800 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of PBF Energy worth $3,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PBF. Fortitude Family Office LLC grew its holdings in shares of PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP purchased a new stake in shares of PBF Energy in the third quarter valued at about $48,000. Harbor Capital Advisors Inc. purchased a new stake in shares of PBF Energy in the third quarter valued at about $59,000. Golden State Wealth Management LLC purchased a new position in PBF Energy during the fourth quarter worth about $61,000. Finally, Blue Trust Inc. boosted its stake in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 150,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was bought at an average price of $28.70 per share, for a total transaction of $4,305,000.00. Following the transaction, the insider now directly owns 29,505,998 shares in the company, valued at $846,822,142.60. This represents a 0.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 1,868,500 shares of company stock valued at $55,348,810 over the last ninety days. Insiders own 5.30% of the company’s stock.

PBF Energy Trading Down 3.0 %

Shares of PBF stock opened at $23.13 on Friday. PBF Energy Inc. has a twelve month low of $22.03 and a twelve month high of $62.88. The firm has a 50-day moving average price of $27.62 and a 200 day moving average price of $30.73. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -4.91 and a beta of 1.60.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. Research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, February 27th. PBF Energy’s dividend payout ratio is presently -23.35%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PBF shares. UBS Group lowered their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and an average target price of $29.55.

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.