Arizona State Retirement System trimmed its holdings in PBF Energy Inc. (NYSE:PBF – Free Report) by 6.3% in the 4th quarter, HoldingsChannel reports. The firm owned 27,200 shares of the oil and gas company’s stock after selling 1,819 shares during the quarter. Arizona State Retirement System’s holdings in PBF Energy were worth $722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,056 shares during the last quarter. Quarry LP bought a new position in shares of PBF Energy during the 3rd quarter valued at approximately $48,000. Golden State Wealth Management LLC bought a new position in shares of PBF Energy during the 4th quarter valued at approximately $61,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of PBF Energy during the 4th quarter valued at approximately $68,000. Finally, Spire Wealth Management boosted its position in shares of PBF Energy by 28.2% during the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 585 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Control Empresarial De Capital bought 341,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the purchase, the insider now directly owns 28,814,998 shares of the company’s stock, valued at approximately $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have bought 1,062,500 shares of company stock worth $28,442,290. Company insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

PBF stock opened at $20.70 on Friday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -4.39 and a beta of 1.62. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a twelve month low of $18.97 and a twelve month high of $62.88. The business’s fifty day simple moving average is $25.93 and its two-hundred day simple moving average is $29.10.

PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 5.32%. PBF Energy’s dividend payout ratio is currently -23.35%.

Analyst Ratings Changes

A number of research analysts have recently commented on PBF shares. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Wells Fargo & Company lowered their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday. Morgan Stanley lowered their target price on PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday. TD Cowen lowered their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group lowered their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, PBF Energy currently has an average rating of “Hold” and a consensus price target of $27.36.

Read Our Latest Research Report on PBF Energy

PBF Energy Profile

(Free Report)

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.

See Also

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