Healthcare of Ontario Pension Plan Trust Fund Reduces Stake in PBF Energy Inc. (NYSE:PBF)

Healthcare of Ontario Pension Plan Trust Fund lowered its position in PBF Energy Inc. (NYSE:PBF) by 30.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,000 shares of the oil and gas company’s stock after selling 70,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of PBF Energy worth $9,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the period. Rise Advisors LLC acquired a new position in PBF Energy in the first quarter valued at approximately $27,000. Creekmur Asset Management LLC acquired a new position in PBF Energy in the fourth quarter valued at approximately $29,000. Fifth Third Bancorp raised its stake in shares of PBF Energy by 30.4% during the 1st quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after buying an additional 222 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of PBF Energy during the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Up 4.0 %

Shares of NYSE PBF traded up $1.57 during mid-day trading on Thursday, reaching $40.60. 1,531,050 shares of the company’s stock were exchanged, compared to its average volume of 2,038,863. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 2.70 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.54. PBF Energy Inc. has a 52-week low of $37.62 and a 52-week high of $62.88. The company’s 50-day moving average is $44.57 and its 200-day moving average is $49.14.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The firm had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.29 billion. Analysts expect that PBF Energy Inc. will post 3.19 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Wednesday, May 15th. PBF Energy’s payout ratio is 6.92%.

Analyst Upgrades and Downgrades

PBF has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Piper Sandler reduced their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Wolfe Research initiated coverage on PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank reduced their target price on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Mizuho dropped their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $54.30.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 51,000 shares of PBF Energy stock in a transaction on Friday, June 7th. The shares were bought at an average price of $46.19 per share, with a total value of $2,355,690.00. Following the transaction, the insider now directly owns 14,875,198 shares of the company’s stock, valued at $687,085,395.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have bought 2,091,100 shares of company stock valued at $93,004,617. Corporate insiders own 5.30% of the company’s stock.

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.