New York State Teachers Retirement System Sells 32,041 Shares of PBF Energy Inc. $PBF

Key Points

• New York State Teachers Retirement System cut its PBF Energy stake by 27% in the first quarter, selling 32,041 shares and leaving it with 86,651 shares valued at about $4.1 million.
• PBF Energy reported better-than-expected revenue of $7.90 billion for the latest quarter, but earnings per share of -$0.88 still missed analyst estimates.
• The company recently paid a quarterly dividend of $0.275 per share, equal to an annualized yield of about 2.1%, while insiders have also sold a sizable amount of stock in recent months.

New York State Teachers Retirement System reduced its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 27.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,651 shares of the oil and gas company's stock after selling 32,041 shares during the period. New York State Teachers Retirement System owned about 0.07% of PBF Energy worth $4,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Merit Financial Group LLC grew its holdings in shares of PBF Energy by 3.4% in the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company's stock worth $268,000 after purchasing an additional 325 shares during the last quarter. Next Level Private LLC raised its holdings 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 valued at $1,808,000 after buying an additional 378 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in PBF Energy by 5.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company's stock valued at $375,000 after buying an additional 383 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PBF Energy by 1.5% during 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 buying an additional 432 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in PBF Energy by 3.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the oil and gas company's stock valued at $682,000 after buying an additional 441 shares during the period. Institutional investors own 96.29% of the company's stock.

PBF Energy Stock Performance

Shares of PBF stock opened at $52.89 on Thursday. The company's fifty day moving average price is $42.29 and its 200-day moving average price is $38.89. The stock has a market cap of $6.26 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. 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 $53.18.

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

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. PBF Energy's dividend payout ratio (DPR) is currently 29.65%.

Insider Activity

In other news, insider Control Empresarial De Capital sold 570,000 shares of the business's stock in a transaction that occurred on 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 2,791,570 shares of company stock worth $126,106,586 in the last ninety days. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PBF has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a research report on Monday, May 11th. Wall Street Zen upgraded shares of PBF Energy from a "hold" rating to a "buy" rating in a report on Monday. The Goldman Sachs Group started coverage on PBF Energy in a research note on Friday, April 10th. They issued a "neutral" rating and a $49.00 target price on the stock. Citigroup upped their price target on PBF Energy from $36.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Finally, Scotiabank lifted their price objective on PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $36.69.

About PBF Energy

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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