Louisiana State Employees Retirement System Makes New $1.15 Million Investment in PBF Energy Inc. $PBF

Louisiana State Employees Retirement System bought a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the 1st quarter, HoldingsChannel reports. The fund bought 24,100 shares of the oil and gas company’s stock, valued at approximately $1,148,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cidel Asset Management Inc. boosted its holdings in shares of PBF Energy by 14.5% in the 1st quarter. Cidel Asset Management Inc. now owns 9,494 shares of the oil and gas company’s stock valued at $452,000 after buying an additional 1,204 shares during the period. SG Americas Securities LLC lifted its holdings in PBF Energy by 24.2% in the first quarter. SG Americas Securities LLC now owns 99,241 shares of the oil and gas company’s stock worth $4,726,000 after acquiring an additional 19,312 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in PBF Energy in the first quarter valued at approximately $223,000. Hsbc Holdings PLC grew its holdings in shares of PBF Energy by 81.7% during the fourth quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock valued at $1,840,000 after purchasing an additional 30,430 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of PBF Energy by 4.1% during the 4th quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock worth $334,000 after purchasing an additional 483 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. The trade was a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,591,570 shares of company stock worth $116,190,986 over the last ninety days. Company insiders own 5.50% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $47.78 on Friday. PBF Energy Inc. has a 12 month low of $21.24 and a 12 month high of $52.18. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.14 and a beta of 0.11. The stock’s 50 day moving average price is $41.73 and its 200 day moving average price is $38.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the previous year, the business posted ($3.53) earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that PBF Energy Inc. will post 8.55 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.3%. PBF Energy’s dividend payout ratio is 29.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho boosted their price objective on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Morgan Stanley upped their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. Citigroup lifted their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Zacks Research cut shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $36.69.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.