Arizona State Retirement System Decreases Stock Holdings in PBF Energy Inc. (NYSE:PBF)

Arizona State Retirement System reduced its position in shares of PBF Energy Inc. (NYSE:PBF) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,096 shares of the oil and gas company’s stock after selling 1,218 shares during the quarter. Arizona State Retirement System’s holdings in PBF Energy were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PBF. Spirit of America Management Corp NY bought a new position in shares of PBF Energy during the fourth quarter valued at about $1,187,000. AlphaMark Advisors LLC bought a new position in PBF Energy during the 4th quarter valued at approximately $232,000. Assenagon Asset Management S.A. bought a new position in PBF Energy during the 4th quarter valued at approximately $1,829,000. Raymond James Financial Services Advisors Inc. lifted its holdings in PBF Energy by 1.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 36,397 shares of the oil and gas company’s stock worth $1,600,000 after buying an additional 580 shares during the period. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of PBF Energy in the 4th quarter worth approximately $512,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Down 0.6 %

PBF stock opened at $59.72 on Friday. The business has a 50 day moving average of $53.35 and a 200 day moving average of $48.22. The firm has a market cap of $7.14 billion, a PE ratio of 3.63 and a beta of 1.73. PBF Energy Inc. has a twelve month low of $31.25 and a twelve month high of $62.88. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

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 for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. PBF Energy’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.41 earnings per share. On average, research analysts forecast that PBF Energy Inc. will post 6.1 EPS for the current fiscal year.

PBF Energy Dividend Announcement

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

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 770,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, January 16th. The stock was bought at an average price of $42.95 per share, with a total value of $33,071,500.00. Following the completion of the transaction, the insider now directly owns 13,832,998 shares of the company’s stock, valued at $594,127,264.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other PBF Energy news, insider Control Empresarial De Capital bought 770,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was acquired at an average price of $42.95 per share, with a total value of $33,071,500.00. Following the transaction, the insider now owns 13,832,998 shares in the company, valued at $594,127,264.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the transaction, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,000 shares of company stock worth $10,074,600. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Mizuho downgraded PBF Energy from a “buy” rating to a “neutral” rating and upped their target price for the company from $53.00 to $58.00 in a report on Friday, March 22nd. Wells Fargo & Company upped their price objective on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen lifted their target price on shares of PBF Energy from $35.00 to $41.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Piper Sandler increased their price target on shares of PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently 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.