14,601 PBF Energy Inc. $PBF Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in shares of PBF Energy Inc. (NYSE:PBF) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,479 shares of the oil and gas company’s stock after buying an additional 14,601 shares during the period. Retirement Systems of Alabama owned 0.09% of PBF Energy worth $7,810,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PBF. Dimensional Fund Advisors LP lifted its stake in shares of PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after buying an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares during the period. Sei Investments Co. increased its stake in PBF Energy by 41.4% in the 1st quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company’s stock worth $17,367,000 after buying an additional 106,819 shares in the last quarter. Empowered Funds LLC increased its stake in PBF Energy by 198.0% in the 1st quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock worth $16,944,000 after buying an additional 236,418 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in PBF Energy by 85.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,428 shares of the oil and gas company’s stock worth $21,279,000 after buying an additional 119,385 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 315,776 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $77.78, for a total transaction of $24,561,057.28. Following the sale, the insider directly owned 13,866,127 shares in the company, valued at approximately $1,078,507,358.06. This represents a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Nimbley sold 125,000 shares of PBF Energy stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $74.55, for a total value of $9,318,750.00. Following the completion of the transaction, the director owned 793,737 shares of the company’s stock, valued at approximately $59,173,093.35. This represents a 13.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,422,800 shares of company stock valued at $112,428,831 over the last three months. Corporate insiders own 5.50% of the company’s stock.

PBF Energy Price Performance

Shares of PBF Energy stock traded up $0.25 during trading on Friday, reaching $71.21. 1,157,501 shares of the stock traded hands, compared to its average volume of 2,719,446. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $92.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.59 and a quick ratio of 0.96. The business has a fifty day simple moving average of $77.17 and a two-hundred day simple moving average of $55.44. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 3.18, a P/E/G ratio of 0.07 and a beta of 0.15.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $12.78 EPS for the quarter, topping analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the business earned ($0.52) earnings per share. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. Sell-side analysts expect that PBF Energy Inc. will post 27.10 EPS for the current year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.3250 per share. This is a positive change from PBF Energy’s previous quarterly dividend of $0.2750. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 1.8%. PBF Energy’s payout ratio is currently 5.81%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho increased their target price on PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. BMO Capital Markets restated a “market perform” rating on shares of PBF Energy in a research note on Thursday, October 1st. The Goldman Sachs Group increased their price objective on shares of PBF Energy from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, October 9th. Piper Sandler lifted their price objective on shares of PBF Energy from $94.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Finally, Citigroup boosted their target price on shares of PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.50.

PBF Energy Company Profile

PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast. PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.