Public Employees Retirement System of Ohio Reduces Stake in PBF Energy Inc. (NYSE:PBF)

Public Employees Retirement System of Ohio lessened its position in shares of PBF Energy Inc. (NYSE:PBF) by 15.7% in the third quarter, Holdings Channel reports. The fund owned 26,866 shares of the oil and gas company’s stock after selling 5,004 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PBF Energy were worth $832,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of PBF Energy during the 2nd quarter valued at about $26,000. Quarry LP bought a new stake in PBF Energy during the third quarter valued at approximately $48,000. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy during the third quarter valued at approximately $59,000. Blue Trust Inc. raised its position in PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of PBF Energy by 27.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 573 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PBF shares. TD Cowen reduced their price objective on PBF Energy from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, November 1st. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $42.00 to $35.00 in a report on Friday, October 4th. Finally, Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Six investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.09.

PBF Energy Stock Down 4.2 %

PBF opened at $25.46 on Friday. The company has a market capitalization of $2.93 billion, a PE ratio of -9.83 and a beta of 1.57. The firm has a 50-day simple moving average of $30.79 and a two-hundred day simple moving average of $35.44. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a 52 week low of $25.42 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the company posted $6.61 earnings per share. PBF Energy’s quarterly revenue was down 21.9% on a year-over-year basis. Analysts forecast that PBF Energy Inc. will post -2.87 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.32%. The ex-dividend date was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -42.47%.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 40,000 shares of PBF Energy stock in a transaction on Wednesday, September 25th. The shares were bought at an average cost of $30.93 per share, with a total value of $1,237,200.00. Following the completion of the purchase, the insider now directly owns 23,407,398 shares of the company’s stock, valued at $723,990,820.14. The trade was a 0.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 3,318,100 shares of company stock valued at $103,238,331 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.