PBF Energy Inc. (NYSE:PBF) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of PBF Energy Inc. (NYSE:PBF) by 11.0% during the fourth quarter, Holdings Channel reports. The fund owned 159,535 shares of the oil and gas company’s stock after selling 19,672 shares during the quarter. California Public Employees Retirement System’s holdings in PBF Energy were worth $4,236,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in PBF Energy in the 4th quarter valued at about $20,896,000. JPMorgan Chase & Co. raised its position in shares of PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after buying an additional 562,287 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of PBF Energy by 2,119.6% during the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after buying an additional 392,776 shares during the period. Private Management Group Inc. boosted its position in PBF Energy by 24.6% during the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company’s stock worth $28,071,000 after acquiring an additional 208,599 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in PBF Energy by 11.2% in the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock worth $49,532,000 after acquiring an additional 187,351 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of PBF stock opened at $14.29 on Wednesday. The company’s fifty day simple moving average is $22.10 and its 200-day simple moving average is $27.32. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 52 week low of $13.62 and a 52 week high of $61.15. The company has a market cap of $1.65 billion, a PE ratio of -3.03 and a beta of 1.15.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. As a group, equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date was Thursday, February 27th. PBF Energy’s dividend payout ratio is presently -23.35%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PBF shares. JPMorgan Chase & Co. reduced their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group reduced their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Piper Sandler lowered their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. TD Cowen cut their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Finally, Wells Fargo & Company lowered their target price on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.55.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 20,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average cost of $19.09 per share, with a total value of $381,800.00. Following the acquisition, the insider now owns 30,534,998 shares in the company, valued at approximately $582,913,111.82. This trade represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought 781,000 shares of company stock valued at $19,776,200 over the last 90 days. 5.30% of the stock is owned by corporate insiders.

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.