State Treasurer State of Michigan trimmed its holdings in PBF Energy Inc. (NYSE:PBF) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,300 shares of the oil and gas company’s stock after selling 3,900 shares during the period. State Treasurer State of Michigan’s holdings in PBF Energy were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. grew its position in PBF Energy by 8.7% in the second quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock worth $264,551,000 after acquiring an additional 953,577 shares in the last quarter. Vanguard Group Inc. grew its position in PBF Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock worth $226,206,000 after acquiring an additional 141,619 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PBF Energy by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock worth $205,480,000 after acquiring an additional 635,728 shares in the last quarter. BlackRock Inc. grew its position in PBF Energy by 94.0% in the second quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock worth $202,832,000 after acquiring an additional 4,415,117 shares in the last quarter. Finally, State Street Corp grew its position in PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after acquiring an additional 1,611,707 shares in the last quarter.

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Several analysts have commented on PBF shares. TheStreet raised shares of PBF Energy from a “c” rating to a “b” rating in a research report on Thursday, November 2nd. Citigroup Inc. decreased their target price on shares of PBF Energy from $37.50 to $33.50 and set a “buy” rating for the company in a research report on Monday, July 17th. Scotiabank set a $24.00 target price on shares of PBF Energy and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company reissued a “buy” rating and issued a $30.00 target price on shares of PBF Energy in a research report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of PBF Energy from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. PBF Energy currently has a consensus rating of “Hold” and an average price target of $26.44.

Shares of PBF Energy Inc. (PBF) opened at $31.90 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50. The stock has a market cap of $3,452.75, a price-to-earnings ratio of 66.96, a P/E/G ratio of 2.21 and a beta of 1.42. PBF Energy Inc. has a 1-year low of $18.48 and a 1-year high of $32.05.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.22. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $4.90 billion. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. PBF Energy’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.16) EPS. analysts anticipate that PBF Energy Inc. will post 1.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, November 10th. PBF Energy’s payout ratio is currently 57.42%.

PBF Energy 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.

Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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