New York State Common Retirement Fund Sells 2,127 Shares of PBF Energy Inc. (NYSE:PBF)

New York State Common Retirement Fund lowered its holdings in PBF Energy Inc. (NYSE:PBF) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 95,589 shares of the oil and gas company’s stock after selling 2,127 shares during the quarter. New York State Common Retirement Fund’s holdings in PBF Energy were worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in PBF Energy by 39.8% during the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 230 shares in the last quarter. Fortitude Family Office LLC purchased a new position in PBF Energy during the fourth quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale purchased a new position in PBF Energy during the fourth quarter valued at approximately $73,000. Headlands Technologies LLC purchased a new position in PBF Energy during the third quarter valued at approximately $101,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in PBF Energy in the 3rd quarter worth approximately $107,000. Institutional investors own 96.29% of the company’s stock.

Insider Activity

In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total value of $2,234,800.00. Following the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,958,084.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,958,084.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock valued at $10,074,600 in the last 90 days. 5.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on PBF shares. Wells Fargo & Company boosted their price target on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Scotiabank upped their price target on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler upped their price objective on shares of PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $58.00 in a research report on Friday, March 22nd. Finally, Citigroup began coverage on shares of PBF Energy in a research report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.91.

PBF Energy Stock Performance

Shares of PBF stock opened at $51.86 on Monday. PBF Energy Inc. has a one year low of $31.25 and a one year high of $62.88. The company’s 50-day moving average is $55.07 and its 200 day moving average is $48.95. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 3.59 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.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 4.95% and a return on equity of 18.49%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. During the same period last year, the company posted $4.41 earnings per share. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts expect that PBF Energy Inc. will post 7.75 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, May 15th. PBF Energy’s payout ratio is presently 6.92%.

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.