State of New Jersey Common Pension Fund D Makes New Investment in PBF Energy Inc. $PBF

Key Points

• State of New Jersey Common Pension Fund D opened a new position in PBF Energy in the fourth quarter, buying 54,757 shares worth about $1.485 million.
• PBF Energy reported mixed quarterly results: earnings of ($0.88) per share missed estimates, but revenue of $7.90 billion came in above expectations and rose 11.9% year over year.
• The company declared a quarterly dividend of $0.275 per share, implying an annual yield of about 2.7%, while analysts remain cautious with an average rating of “Reduce” and an average price target of $35.92.

State of New Jersey Common Pension Fund D bought a new position in PBF Energy Inc. (NYSE:PBF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 54,757 shares of the oil and gas company's stock, valued at approximately $1,485,000.

Several other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 589 shares during the last quarter. Torren Management LLC acquired a new stake in PBF Energy during the 4th quarter valued at $30,000. Deseret Mutual Benefit Administrators raised its position in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 440 shares during the last quarter. Hantz Financial Services Inc. raised its position in PBF Energy by 235.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 912 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in PBF Energy in the third quarter worth $41,000. 96.29% of the stock is owned by institutional investors.

PBF Energy Stock Down 0.0%

NYSE:PBF opened at $40.71 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a 12-month low of $17.53 and a 12-month high of $52.18. The stock's fifty day simple moving average is $43.05 and its 200-day simple moving average is $36.29. The firm has a market capitalization of $4.76 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.17 and a beta of 0.15.

PBF Energy (NYSE:PBF - Get Free Report) last released 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). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the prior year, the company posted ($3.53) EPS. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that PBF Energy Inc. will post 6.21 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, May 14th. PBF Energy's dividend payout ratio is presently 29.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PBF shares. 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 for the company. Wall Street Zen downgraded PBF Energy from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Citigroup lifted their target price on PBF Energy from $36.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Tudor Pickering upgraded PBF Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, February 13th. 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, eight have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $35.92.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital sold 220,000 shares of PBF Energy stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.91, for a total transaction of $10,100,200.00. Following the transaction, the insider directly owned 18,468,698 shares of the company's stock, valued at $847,897,925.18. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas J. Nimbley sold 50,000 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $50.62, for a total transaction of $2,531,000.00. Following the completion of the transaction, the director directly owned 790,716 shares of the company's stock, valued at $40,026,043.92. This trade represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 10,372,925 shares of company stock valued at $470,521,421. Corporate insiders own 5.50% of the company's stock.

PBF Energy 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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