PBF Energy Inc. (NYSE:PBF) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,800 shares of the oil and gas company’s stock after selling 912 shares during the quarter. Vestcor Inc’s holdings in PBF Energy were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of New Jersey Common Pension Fund D increased its holdings in PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares during the last quarter. Royce & Associates LP purchased a new position in shares of PBF Energy during the third quarter worth $215,000. Quest Partners LLC grew its stake in shares of PBF Energy by 115.1% in the third quarter. Quest Partners LLC now owns 9,459 shares of the oil and gas company’s stock valued at $293,000 after buying an additional 5,061 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of PBF Energy by 12.6% in the third quarter. Advisors Asset Management Inc. now owns 39,646 shares of the oil and gas company’s stock valued at $1,227,000 after buying an additional 4,447 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of PBF Energy by 13.8% in the 3rd quarter. King Luther Capital Management Corp now owns 33,240 shares of the oil and gas company’s stock valued at $1,029,000 after buying an additional 4,027 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 341,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the purchase, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 1,062,500 shares of company stock valued at $28,442,290 in the last three months. 5.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PBF. TD Cowen lowered their target price on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $31.00 in a report on Monday, December 16th. The Goldman Sachs Group cut their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. UBS Group decreased their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price objective 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. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.36.

PBF Energy Stock Performance

Shares of PBF opened at $22.29 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy Inc. has a 52-week low of $18.97 and a 52-week high of $62.88. The stock has a 50 day moving average price of $25.84 and a 200 day moving average price of $28.98. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -4.73 and a beta of 1.62.

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

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s payout ratio is currently -23.35%.

About PBF Energy

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.