Oregon Public Employees Retirement Fund Buys 4,191 Shares of PBF Energy Inc. (NYSE:PBF)

Oregon Public Employees Retirement Fund lifted its stake in shares of PBF Energy Inc. (NYSE:PBFGet Rating) by 13.4% in the third quarter, HoldingsChannel reports. The fund owned 35,486 shares of the oil and gas company’s stock after acquiring an additional 4,191 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PBF Energy were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PBF. Assenagon Asset Management S.A. grew its stake in shares of PBF Energy by 195.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,756,230 shares of the oil and gas company’s stock valued at $79,986,000 after acquiring an additional 1,822,773 shares during the period. Millennium Management LLC grew its stake in shares of PBF Energy by 388.2% during the 2nd quarter. Millennium Management LLC now owns 1,989,509 shares of the oil and gas company’s stock valued at $57,736,000 after acquiring an additional 1,581,991 shares during the period. 140 Summer Partners LP bought a new position in shares of PBF Energy during the 2nd quarter valued at approximately $45,031,000. PointState Capital LP bought a new position in PBF Energy in the 2nd quarter worth approximately $36,372,000. Finally, Vanguard Group Inc. boosted 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 worth $298,916,000 after purchasing an additional 1,077,287 shares during the period. 90.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PBF Energy news, SVP Paul T. Davis sold 117,500 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.28, for a total value of $5,555,400.00. Following the sale, the senior vice president now owns 44,126 shares in the company, valued at $2,086,277.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John C. Barone sold 32,500 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $45.97, for a total transaction of $1,494,025.00. Following the transaction, the insider now owns 14,662 shares of the company’s stock, valued at approximately $674,012.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul T. Davis sold 117,500 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.28, for a total value of $5,555,400.00. Following the transaction, the senior vice president now directly owns 44,126 shares in the company, valued at approximately $2,086,277.28. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $42.37 on Monday. The stock’s fifty day moving average is $40.11 and its 200 day moving average is $37.13. PBF Energy Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $49.00. The firm has a market capitalization of $5.19 billion, a PE ratio of 2.20 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.72 and a current ratio of 1.21.

PBF Energy (NYSE:PBFGet Rating) last released its quarterly earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share for the quarter, beating the consensus estimate of $6.03 by $1.93. PBF Energy had a return on equity of 73.75% and a net margin of 5.44%. The company had revenue of $12.76 billion for the quarter, compared to analyst estimates of $10.12 billion. On average, sell-side analysts anticipate that PBF Energy Inc. will post 23.56 earnings per share for the current year.

PBF Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.89%. PBF Energy’s payout ratio is 4.16%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PBF shares. The Goldman Sachs Group upped their price target on PBF Energy from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, October 28th. Cowen upped their price target on PBF Energy to $35.00 in a research note on Tuesday, November 1st. Mizuho restated a “buy” rating and issued a $50.00 price target (up from $43.00) on shares of PBF Energy in a research note on Tuesday, January 10th. Morgan Stanley upped their price target on PBF Energy from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Wells Fargo & Company decreased their price objective on PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average target price of $41.69.

About PBF Energy

(Get Rating)

PBF Energy Inc, together with 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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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