Louisiana State Employees Retirement System Purchases Shares of 24,100 PBF Energy Inc. $PBF

Key Points

• Louisiana State Employees Retirement System initiated a new position in PBF Energy in the first quarter, buying 24,100 shares valued at about $1.15 million.
• Institutional interest remains high, with hedge funds and other large investors owning 96.29% of PBF Energy’s stock, even as some insiders have recently sold shares.
• PBF Energy posted weaker-than-expected quarterly earnings, missing EPS estimates but beating revenue forecasts; analysts currently rate the stock cautiously, with an average “Reduce” rating and a mean price target of $36.69.

Louisiana State Employees Retirement System acquired a new position in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,100 shares of the oil and gas company's stock, valued at approximately $1,148,000.

Several other large investors also recently made changes to their positions in PBF. Merit Financial Group LLC raised its stake in shares of PBF Energy by 3.4% in the 4th quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company's stock valued at $268,000 after acquiring an additional 325 shares during the period. Next Level Private LLC boosted its position in PBF Energy by 0.6% during the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company's stock worth $1,808,000 after purchasing an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company's stock valued at $863,000 after purchasing an additional 432 shares in the last quarter. Corient Private Wealth LLC increased its holdings in PBF Energy by 4.1% in the 4th quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company's stock valued at $334,000 after purchasing an additional 483 shares in the last quarter. Finally, Venture Visionary Partners LLC raised its position in PBF Energy by 5.0% in the fourth quarter. Venture Visionary Partners LLC now owns 10,616 shares of the oil and gas company's stock valued at $288,000 after purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of recent research reports. Zacks Research cut PBF Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Mizuho raised their target price on PBF Energy from $43.00 to $48.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Citigroup raised their target price on PBF Energy from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Morgan Stanley upped their price target on PBF Energy from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Friday, June 12th. Finally, TD Cowen raised shares of PBF Energy from a "sell" rating to a "hold" rating and increased their price objective for the company from $36.00 to $39.00 in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $36.69.

PBF Energy Stock Down 0.1%

Shares of NYSE:PBF opened at $47.78 on Friday. The firm has a market cap of $5.65 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. The company has a fifty day simple moving average of $41.73 and a 200 day simple moving average of $38.33. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a 12-month low of $21.24 and a 12-month high of $52.18.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company's revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned ($3.53) earnings per share. On average, equities research analysts anticipate that PBF Energy Inc. will post 8.55 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.3%. PBF Energy's dividend payout ratio (DPR) is presently 29.65%.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 570,000 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the sale, the insider directly owned 17,142,128 shares of the company's stock, valued at $794,709,054.08. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,591,570 shares of company stock valued at $116,190,986 in the last three months. 5.50% of the stock is currently owned by company insiders.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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