Retirement Systems of Alabama Sells 1,134 Shares of PBF Energy Inc. (NYSE:PBF)

Retirement Systems of Alabama reduced its position in PBF Energy Inc. (NYSE:PBF) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,214 shares of the oil and gas company’s stock after selling 1,134 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of PBF Energy worth $5,988,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PBF. Acadian Asset Management LLC boosted its position in shares of PBF Energy by 1,112.3% in the third quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock valued at $51,718,000 after acquiring an additional 886,617 shares during the period. Assetmark Inc. boosted its position in shares of PBF Energy by 84.5% in the third quarter. Assetmark Inc. now owns 1,410,260 shares of the oil and gas company’s stock valued at $75,491,000 after acquiring an additional 645,976 shares during the period. LSV Asset Management boosted its position in shares of PBF Energy by 89.4% in the third quarter. LSV Asset Management now owns 1,058,504 shares of the oil and gas company’s stock valued at $56,662,000 after acquiring an additional 499,505 shares during the period. Victory Capital Management Inc. boosted its position in shares of PBF Energy by 527.4% in the third quarter. Victory Capital Management Inc. now owns 526,671 shares of the oil and gas company’s stock valued at $28,193,000 after acquiring an additional 442,730 shares during the period. Finally, FMR LLC boosted its position in shares of PBF Energy by 91.3% in the third quarter. FMR LLC now owns 904,537 shares of the oil and gas company’s stock valued at $48,420,000 after acquiring an additional 431,801 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $55.07, for a total value of $2,202,800.00. Following the sale, the senior vice president now owns 160,338 shares in the company, valued at $8,829,813.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,829,813.66. 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 over the last three months. 5.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PBF. TD Cowen lowered their target price on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company raised their target price on shares of PBF Energy from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler raised their target price on shares of PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and raised their target price for the company from $53.00 to $58.00 in a research note on Friday, March 22nd. Finally, Scotiabank raised their target price on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.91.

PBF Energy Stock Down 1.4 %

Shares of NYSE PBF opened at $51.86 on Friday. 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 Inc. has a 52 week low of $31.25 and a 52 week high of $62.88. The firm’s fifty day moving average is $55.07 and its 200 day moving average is $48.96. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 3.59 and a beta of 1.73.

PBF Energy (NYSE:PBF) last issued its earnings results 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 return on equity of 18.49% and a net margin of 4.95%. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.65 billion. During the same period in the previous year, the firm earned $4.41 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts expect that PBF Energy Inc. will post 7.75 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, May 15th. PBF Energy’s payout ratio is 6.92%.

PBF Energy Company 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.