New York State Teachers Retirement System Acquires 1,429 Shares of PBF Energy Inc. (NYSE:PBF)

New York State Teachers Retirement System raised its stake in PBF Energy Inc. (NYSE:PBF) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 147,789 shares of the oil and gas company’s stock after buying an additional 1,429 shares during the period. New York State Teachers Retirement System’s holdings in PBF Energy were worth $6,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC bought a new stake in shares of PBF Energy in the fourth quarter valued at $412,454,000. Norges Bank purchased a new stake in PBF Energy in the 4th quarter worth about $43,996,000. Vanguard Group Inc. raised its stake in PBF Energy by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company’s stock valued at $298,916,000 after acquiring an additional 1,077,287 shares during the period. Acadian Asset Management LLC lifted its holdings in PBF Energy by 1,112.3% during the third quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock valued at $51,718,000 after purchasing an additional 886,617 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in PBF Energy by 253.1% during the first quarter. AQR Capital Management LLC now owns 1,156,262 shares of the oil and gas company’s stock worth $49,569,000 after purchasing an additional 828,787 shares during the period. 96.29% of the stock is owned by institutional investors.

PBF Energy Price Performance

NYSE:PBF opened at $59.71 on Friday. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 3.63 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. The stock has a fifty day moving average of $53.35 and a 200 day moving average of $48.25. PBF Energy Inc. has a 52-week low of $31.25 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter last year, the business posted $4.41 EPS. The business’s revenue was down 15.7% compared to the same quarter last year. On average, research analysts expect that PBF Energy Inc. will post 6.1 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. PBF Energy’s dividend payout ratio is presently 6.08%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital acquired 770,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were purchased at an average price of $42.95 per share, for a total transaction of $33,071,500.00. Following the transaction, the insider now owns 13,832,998 shares in the company, valued at approximately $594,127,264.10. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Control Empresarial De Capital bought 770,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, January 16th. The shares were acquired at an average cost of $42.95 per share, for a total transaction of $33,071,500.00. Following the acquisition, the insider now owns 13,832,998 shares in the company, valued at approximately $594,127,264.10. The disclosure for this purchase can be found here. Insiders have sold 180,000 shares of company stock valued at $10,074,600 in the last quarter. Insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PBF shares. JPMorgan Chase & Co. boosted their price target on shares of PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Piper Sandler boosted their target price on shares of PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $74.00 in a research report on Friday, March 15th. Scotiabank lifted their price target on PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, TD Cowen boosted their price objective on PBF Energy from $35.00 to $41.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.55.

PBF Energy 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.