PBF Energy Inc. (PBF) Stake Cut by California Public Employees Retirement System
California Public Employees Retirement System lowered its position in PBF Energy Inc. (NYSE:PBF) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,800 shares of the company’s stock after selling 4,200 shares during the period. California Public Employees Retirement System owned approximately 0.19% of PBF Energy worth $4,139,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PBF. US Bancorp DE raised its stake in PBF Energy by 1.2% in the second quarter. US Bancorp DE now owns 4,437 shares of the company’s stock valued at $106,000 after buying an additional 53 shares during the period. Huntington National Bank bought a new stake in shares of PBF Energy during the second quarter valued at about $109,000. Pacer Advisors Inc. bought a new stake in shares of PBF Energy during the second quarter valued at about $175,000. Oppenheimer & Co. Inc. bought a new stake in shares of PBF Energy during the second quarter valued at about $202,000. Finally, Advisory Services Network LLC increased its stake in shares of PBF Energy by 13.9% in the second quarter. Advisory Services Network LLC now owns 9,403 shares of the company’s stock valued at $224,000 after buying an additional 1,150 shares in the last quarter.
PBF Energy Inc. (NYSE:PBF) traded up 0.56% during midday trading on Tuesday, hitting $25.21. The stock had a trading volume of 1,647,353 shares. PBF Energy Inc. has a 12-month low of $19.47 and a 12-month high of $40.96. The company’s 50-day moving average price is $22.96 and its 200 day moving average price is $23.40. The stock’s market cap is $2.47 billion.
PBF Energy (NYSE:PBF) last issued its earnings results on Friday, October 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.60. The company earned $4.51 billion during the quarter, compared to analyst estimates of $4.23 billion. PBF Energy had a positive return on equity of 0.11% and a negative net margin of 0.02%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, equities research analysts predict that PBF Energy Inc. will post ($0.83) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th were issued a dividend of $0.30 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.76%. PBF Energy’s payout ratio is currently -2,400.00%.
Several brokerages have recently issued reports on PBF. Credit Suisse Group AG restated an “outperform” rating on shares of PBF Energy in a research report on Sunday, September 4th. Tudor Pickering downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Barclays PLC restated an “equal weight” rating and issued a $26.00 price objective on shares of PBF Energy in a research report on Monday, August 1st. Goldman Sachs Group Inc. downgraded PBF Energy from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $23.00 to $19.00 in a research report on Thursday, September 8th. Finally, Wolfe Research upgraded PBF Energy from a “peer perform” rating to an “outperform” rating in a research report on Monday, November 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $27.08.
In other PBF Energy news, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction dated Friday, September 9th. The shares were acquired at an average price of $21.73 per share, for a total transaction of $217,300.00. Following the completion of the acquisition, the insider now owns 50,000 shares of the company’s stock, valued at approximately $1,086,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction dated Friday, September 9th. The shares were acquired at an average price of $21.84 per share, for a total transaction of $1,092,000.00. Following the acquisition, the chief executive officer now directly owns 160,000 shares of the company’s stock, valued at approximately $3,494,400. The disclosure for this purchase can be found here. Insiders own 5.70% of the company’s stock.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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