State of New Jersey Common Pension Fund D Has $1.84 Million Stake in PBF Energy Inc. (NYSE:PBF)

State of New Jersey Common Pension Fund D raised its position in PBF Energy Inc. (NYSE:PBF) by 44.1% in the third quarter, HoldingsChannel.com reports. The fund owned 59,424 shares of the oil and gas company’s stock after purchasing an additional 18,173 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PBF Energy were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in PBF Energy by 32.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares during the last quarter. LSV Asset Management boosted its stake in shares of PBF Energy by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after acquiring an additional 34,470 shares during the period. American Century Companies Inc. increased its holdings in shares of PBF Energy by 3.4% during the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after acquiring an additional 32,862 shares during the last quarter. Private Management Group Inc. raised its stake in PBF Energy by 27.5% in the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock valued at $26,267,000 after acquiring an additional 183,183 shares during the period. Finally, AQR Capital Management LLC raised its stake in PBF Energy by 14.8% in the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock valued at $29,883,000 after acquiring an additional 84,532 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. downgraded shares of PBF Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. The Goldman Sachs Group decreased their target price on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Finally, Bank of America began coverage on PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price target for the company. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.18.

PBF Energy Trading Up 2.4 %

PBF opened at $31.46 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. PBF Energy Inc. has a twelve month low of $27.94 and a twelve month high of $62.88. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -11.86 and a beta of 1.56. The company has a 50-day simple moving average of $31.59 and a 200 day simple moving average of $38.42.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business posted $6.61 EPS. The business’s revenue was down 21.9% on a year-over-year basis. Analysts predict that PBF Energy Inc. will post -2.79 EPS for the current fiscal year.

PBF Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is -42.47%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 40,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average price of $30.93 per share, with a total value of $1,237,200.00. Following the completion of the acquisition, the insider now owns 23,407,398 shares of the company’s stock, valued at $723,990,820.14. The trade was a 0.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 4,492,400 shares of company stock worth $142,172,797 in the last ninety days. 5.30% of the stock is owned by insiders.

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.