Retirement Systems of Alabama Grows Stake in PBF Energy Inc. (NYSE:PBF)

Retirement Systems of Alabama increased its stake in PBF Energy Inc. (NYSE:PBF) by 0.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,573 shares of the oil and gas company’s stock after buying an additional 359 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of PBF Energy worth $7,863,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in PBF Energy in the fourth quarter valued at approximately $54,832,000. LSV Asset Management grew its holdings in PBF Energy by 20.4% during the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock valued at $56,045,000 after purchasing an additional 216,400 shares in the last quarter. Van ECK Associates Corp grew its holdings in PBF Energy by 763.4% during the 1st quarter. Van ECK Associates Corp now owns 208,586 shares of the oil and gas company’s stock valued at $12,008,000 after purchasing an additional 184,426 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in PBF Energy by 205.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 231,800 shares of the oil and gas company’s stock worth $10,190,000 after buying an additional 156,000 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in PBF Energy by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock worth $324,487,000 after buying an additional 120,414 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 200,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $45.37 per share, with a total value of $9,074,000.00. Following the completion of the transaction, the insider now directly owns 14,824,198 shares of the company’s stock, valued at $672,573,863.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased 2,091,100 shares of company stock worth $93,004,617 in the last 90 days. 6.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on PBF shares. Piper Sandler lowered their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $74.00 in a report on Friday, March 15th. The Goldman Sachs Group reduced their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price target on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Finally, Mizuho cut their price target on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.91.

PBF Energy Stock Performance

Shares of NYSE:PBF traded down $2.32 on Friday, reaching $43.43. 1,234,618 shares of the company’s stock were exchanged, compared to its average volume of 2,040,626. The business’s 50-day moving average is $47.76 and its two-hundred day moving average is $49.54. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $62.88. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 3.02 and a beta of 1.60.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.24. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. The firm had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.29 billion. As a group, equities research analysts forecast that PBF Energy Inc. will post 5.26 EPS for the current year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s dividend payout ratio (DPR) 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.