Teacher Retirement System of Texas Acquires New Position in PBF Energy Inc. (NYSE:PBF)

Teacher Retirement System of Texas acquired a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,693 shares of the oil and gas company's stock, valued at approximately $242,000.

Other hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its position in PBF Energy by 150.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock worth $56,191,000 after buying an additional 1,272,254 shares in the last quarter. Norges Bank purchased a new position in PBF Energy during the fourth quarter worth approximately $20,896,000. Recurrent Investment Advisors LLC lifted its position in PBF Energy by 154.0% during the fourth quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company's stock worth $25,096,000 after buying an additional 573,161 shares in the last quarter. JPMorgan Chase & Co. lifted its position in 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 worth $39,628,000 after buying an additional 562,287 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after buying an additional 276,672 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 48,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.30% of the company's stock.

PBF Energy Stock Performance

Shares of NYSE PBF traded up $0.30 during midday trading on Wednesday, reaching $24.31. The company's stock had a trading volume of 2,736,511 shares, compared to its average volume of 2,745,475. PBF Energy Inc. has a 12-month low of $13.62 and a 12-month high of $42.64. The firm has a 50 day moving average price of $22.34 and a 200-day moving average price of $22.18. The stock has a market capitalization of $2.81 billion, a P/E ratio of -2.67 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm's revenue was down 18.3% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, May 15th. PBF Energy's dividend payout ratio is currently -12.09%.

Analyst Ratings Changes

Several research analysts recently commented on PBF shares. Morgan Stanley boosted their target price on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group raised PBF Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Mizuho raised their target price on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Scotiabank reissued a "sector perform" rating and set a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Finally, Piper Sandler raised their target price on PBF Energy from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Tuesday. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.08.

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.