State Board of Administration of Florida Retirement System decreased its holdings in shares of PBF Energy Inc. (NYSE:PBF – Get Rating) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,928 shares of the oil and gas company’s stock after selling 2,780 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in PBF Energy were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in PBF Energy during the 1st quarter worth about $48,000. Meeder Asset Management Inc. boosted its position in shares of PBF Energy by 354.0% in the first quarter. Meeder Asset Management Inc. now owns 2,792 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,177 shares during the period. Point72 Hong Kong Ltd bought a new stake in PBF Energy during the 1st quarter worth approximately $76,000. Ellevest Inc. lifted its stake in PBF Energy by 724.0% in the 2nd quarter. Ellevest Inc. now owns 3,436 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 3,019 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in PBF Energy in the 2nd quarter valued at $102,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Insider Transactions at PBF Energy
In related news, SVP Connor Thomas L. O sold 100,000 shares of PBF Energy stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $37.54, for a total value of $3,754,000.00. Following the transaction, the senior vice president now directly owns 80,000 shares of the company’s stock, valued at $3,003,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider John C. Barone sold 32,500 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $45.97, for a total transaction of $1,494,025.00. Following the completion of the sale, the insider now directly owns 14,662 shares in the company, valued at $674,012.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Connor Thomas L. O sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $37.54, for a total value of $3,754,000.00. Following the completion of the sale, the senior vice president now directly owns 80,000 shares in the company, valued at $3,003,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,000 shares of company stock worth $10,803,425. Insiders own 5.60% of the company’s stock.
PBF Energy Trading Down 0.5 %
PBF Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 10th. PBF Energy’s dividend payout ratio (DPR) is presently 4.16%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Cowen boosted their target price on PBF Energy to $35.00 in a research report on Tuesday, November 1st. Cowen raised their price objective on shares of PBF Energy from $25.00 to $32.00 in a research report on Monday, August 1st. Piper Sandler upped their target price on shares of PBF Energy from $53.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 9th. JPMorgan Chase & Co. raised PBF Energy from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a research note on Wednesday, September 21st. Finally, TheStreet raised PBF Energy from a “c” rating to a “b-” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.83.
PBF Energy Profile
PBF Energy Inc, together with 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.
- Get a free copy of the StockNews.com research report on PBF Energy (PBF)
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