Teachers Retirement System of The State of Kentucky Sells 700 Shares of PBF Energy Inc. (NYSE:PBF)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of PBF Energy Inc. (NYSE:PBF) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,850 shares of the oil and gas company’s stock after selling 700 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PBF Energy were worth $1,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in PBF Energy in the 4th quarter valued at $20,896,000. JPMorgan Chase & Co. lifted its stake in shares of PBF Energy by 60.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after acquiring an additional 562,287 shares during the period. Van ECK Associates Corp boosted its holdings in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after acquiring an additional 392,776 shares during the last quarter. Private Management Group Inc. increased its position in PBF Energy by 24.6% in the fourth quarter. Private Management Group Inc. now owns 1,057,295 shares of the oil and gas company’s stock worth $28,071,000 after purchasing an additional 208,599 shares during the period. Finally, American Century Companies Inc. raised its holdings in PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock worth $49,532,000 after purchasing an additional 187,351 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

NYSE:PBF opened at $16.28 on Monday. The stock’s 50-day simple moving average is $18.83 and its 200 day simple moving average is $25.71. PBF Energy Inc. has a 52-week low of $13.62 and a 52-week high of $58.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company has a market cap of $1.88 billion, a P/E ratio of -3.46 and a beta of 1.15.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data 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). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. As a group, sell-side analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 6.76%. PBF Energy’s dividend payout ratio is presently -23.35%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PBF shares. Scotiabank dropped their price target on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group reduced their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Piper Sandler lowered their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and an average target price of $23.45.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $1,757,400.00. Following the purchase, the insider now owns 29,144,998 shares in the company, valued at approximately $853,656,991.42. The trade was a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders bought 627,000 shares of company stock worth $14,602,580. Insiders own 5.30% of the company’s stock.

PBF Energy 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.