PBF Energy Inc. (NYSE:PBF) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its stake in shares of PBF Energy Inc. (NYSE:PBF) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,824 shares of the oil and gas company’s stock after selling 1,716 shares during the period. State of Tennessee Department of Treasury owned approximately 0.05% of PBF Energy worth $1,615,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy during the 4th quarter valued at approximately $61,000. EverSource Wealth Advisors LLC boosted its stake in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of PBF Energy in the 4th quarter worth approximately $68,000. Finally, Spire Wealth Management increased its stake in PBF Energy by 28.2% in the 4th quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 585 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Stock Up 0.8 %

Shares of NYSE:PBF opened at $17.22 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -3.66 and a beta of 1.15. The stock’s 50-day moving average price is $18.56 and its two-hundred day moving average price is $25.54. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $57.47.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio (DPR) is currently -23.35%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company decreased their target price on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. UBS Group dropped their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Scotiabank cut their target price on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Mizuho lowered their price target on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average price target of $23.45.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 16,000 shares of PBF Energy stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $13.88 per share, with a total value of $222,080.00. Following the completion of the transaction, the insider now directly owns 30,737,998 shares in the company, valued at approximately $426,643,412.24. This represents a 0.05 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have bought 567,000 shares of company stock worth $12,845,180. 5.30% of the stock is owned by insiders.

PBF Energy Company 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.