State of New Jersey Common Pension Fund D Has $1.77 Million Stock Position in PBF Energy Inc. (NYSE:PBF)

State of New Jersey Common Pension Fund D lifted its holdings in PBF Energy Inc. (NYSE:PBF) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,534 shares of the oil and gas company’s stock after purchasing an additional 7,110 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of PBF Energy worth $1,766,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PBF. Fortitude Family Office LLC increased its holdings in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,056 shares during the last quarter. Quarry LP bought a new position in shares of PBF Energy in the third quarter valued at approximately $48,000. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy in the third quarter worth $59,000. Golden State Wealth Management LLC bought a new stake in shares of PBF Energy during the 4th quarter worth $61,000. Finally, Blue Trust Inc. grew its stake in PBF Energy by 1,291.1% in the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 2,027 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Stock Down 1.4 %

Shares of PBF opened at $22.81 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $27.30 and a two-hundred day moving average price of $30.36. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -4.84 and a beta of 1.60. PBF Energy Inc. has a 12 month low of $22.03 and a 12 month high of $62.88.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. Equities analysts predict that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.275 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 4.82%. PBF Energy’s dividend payout ratio is presently -23.35%.

Analysts Set New Price Targets

PBF has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research note on Friday, December 20th. Finally, Wells Fargo & Company reduced their price target on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.55.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $28.70 per share, with a total value of $4,305,000.00. Following the acquisition, the insider now directly owns 29,505,998 shares of the company’s stock, valued at approximately $846,822,142.60. This trade represents a 0.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have bought 1,402,500 shares of company stock valued at $40,625,690. 5.30% of the stock is owned by insiders.

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.