Public Employees Retirement System of Ohio Reduces Stock Position in PBF Energy Inc. (NYSE:PBF)

Public Employees Retirement System of Ohio decreased its position in PBF Energy Inc. (NYSE:PBF) by 15.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,866 shares of the oil and gas company’s stock after selling 5,004 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PBF Energy were worth $832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBF. Y Intercept Hong Kong Ltd raised its position in PBF Energy by 108.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,902 shares of the oil and gas company’s stock valued at $1,359,000 after purchasing an additional 22,852 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of PBF Energy during the third quarter valued at approximately $1,415,000. Wexford Capital LP purchased a new position in shares of PBF Energy during the third quarter valued at approximately $310,000. Quadrature Capital Ltd purchased a new stake in PBF Energy in the third quarter worth $927,000. Finally, Quarry LP bought a new stake in PBF Energy in the third quarter valued at $48,000. 96.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Bank of America initiated coverage on PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price on the stock. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $39.00 to $34.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. downgraded PBF Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and an average price target of $33.09.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital bought 300,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $30.82 per share, for a total transaction of $9,246,000.00. Following the purchase, the insider now owns 27,863,498 shares of the company’s stock, valued at approximately $858,753,008.36. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders acquired 3,318,100 shares of company stock valued at $103,238,331. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

PBF opened at $25.46 on Friday. PBF Energy Inc. has a 1 year low of $25.42 and a 1 year high of $62.88. The stock has a 50-day moving average price of $30.79 and a 200-day moving average price of $35.44. The firm has a market cap of $2.93 billion, a PE ratio of -9.83 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm posted $6.61 earnings per share. The firm’s quarterly revenue was down 21.9% on a year-over-year basis. Sell-side analysts predict that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. The ex-dividend date was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 4.32%. PBF Energy’s dividend payout ratio is -42.47%.

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.