Louisiana State Employees Retirement System Sells 2,200 Shares of PBF Energy Inc. (NYSE:PBF)

Louisiana State Employees Retirement System lessened its position in shares of PBF Energy Inc. (NYSE:PBF) by 7.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 27,600 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in PBF Energy were worth $854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in PBF Energy in the second quarter worth $26,000. CWM LLC grew its stake in PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after buying an additional 569 shares during the last quarter. Blue Trust Inc. increased its position in PBF Energy by 1,291.1% during 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 in the last quarter. Headlands Technologies LLC purchased a new stake in PBF Energy in the first quarter valued at about $82,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in PBF Energy by 152.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,071 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,252 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBF. Bank of America started coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective on the stock. Morgan Stanley decreased their price target on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Wolfe Research started coverage on shares of PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their target price on PBF Energy from $51.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.45.

PBF Energy Stock Down 1.5 %

PBF Energy stock opened at $28.08 on Monday. The business’s 50-day moving average price is $32.15 and its 200 day moving average price is $40.24. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -10.84 and a beta of 1.56. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.10). PBF Energy had a negative return on equity of 2.78% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $6.61 EPS. PBF Energy’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that PBF Energy Inc. will post -2.27 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.92%. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is -38.61%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $29.01 per share, for a total transaction of $8,703,000.00. Following the purchase, the insider now directly owns 25,640,498 shares in the company, valued at approximately $743,830,846.98. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 4,257,400 shares of company stock valued at $135,462,347 in the last ninety days. 5.30% of the stock is currently owned by corporate 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.