PBF Energy Inc. $PBF Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its PBF Energy stake by 23.6% in the first quarter, holding 101,282 shares valued at approximately $4.8 million. Institutional investors collectively own 96.29% of the company.
• PBF Energy reported strong quarterly results, with EPS of $6.22 versus the $4.15 consensus and revenue of $11.68 billion, up 56.2% year over year. The company also declared a quarterly dividend of $0.275 per share, equating to a 1.8% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying an average “Reduce” rating and a $50.15 price target, despite recent target increases. Meanwhile, company insiders sold more than 4.26 million shares worth approximately $235.4 million over the past 90 days.

California State Teachers Retirement System increased its stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) by 23.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,282 shares of the oil and gas company's stock after buying an additional 19,354 shares during the quarter. California State Teachers Retirement System owned about 0.09% of PBF Energy worth $4,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Leonteq Securities AG acquired a new position in PBF Energy in the 1st quarter valued at about $33,000. Torren Management LLC purchased a new position in shares of PBF Energy during the fourth quarter worth $30,000. Los Angeles Capital Management LLC acquired a new position in PBF Energy in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC grew its position in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in PBF Energy during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PBF shares. The Goldman Sachs Group increased their price target on shares of PBF Energy from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Scotiabank upped their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. TD Cowen increased their target price on shares of PBF Energy from $39.00 to $68.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Citigroup raised their price target on shares of PBF Energy from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, Zacks Research raised PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $50.15.

PBF Energy Stock Performance

NYSE:PBF opened at $61.23 on Friday. PBF Energy Inc. has a 12 month low of $21.46 and a 12 month high of $74.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The firm has a market capitalization of $7.24 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.07 and a beta of 0.10. The business's fifty day moving average price is $51.18 and its 200 day moving average price is $43.90.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the business earned ($1.03) EPS. PBF Energy's revenue for the quarter was up 56.2% on a year-over-year basis. On average, sell-side analysts anticipate that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy's dividend payout ratio (DPR) is 9.73%.

Insider Activity at PBF Energy

In other PBF Energy news, CEO Matthew C. Lucey sold 225,473 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the transaction, the chief executive officer owned 495,771 shares in the company, valued at $35,655,850.32. This represents a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas J. Nimbley sold 468,139 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $69.54, for a total value of $32,554,386.06. Following the transaction, the director directly owned 793,737 shares in the company, valued at approximately $55,196,470.98. The trade was a 37.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,260,935 shares of company stock valued at $235,363,946 in the last ninety days. Insiders own 5.50% of the company's stock.

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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