Strs Ohio Invests $473,000 in PBF Energy Inc. $PBF

Key Points

• Strs Ohio has invested approximately $473,000 in PBF Energy Inc., acquiring 24,800 shares in the first quarter.
• Multiple institutional investors significantly increased their holdings in PBF Energy, with T. Rowe Price growing its stake by 170.7% during the same period.
• PBF Energy reported a loss of ($1.03) EPS for the last quarter, exceeding analysts' expectations, and had a revenue of $7.48 billion, down 14.4% year-over-year.

Strs Ohio purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,800 shares of the oil and gas company's stock, valued at approximately $473,000.

A number of other institutional investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its holdings in shares of PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock valued at $109,364,000 after purchasing an additional 3,612,447 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PBF Energy by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after purchasing an additional 260,464 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of PBF Energy by 1.7% in the first quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company's stock valued at $36,231,000 after purchasing an additional 32,285 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PBF Energy by 12.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock valued at $31,981,000 after purchasing an additional 182,456 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of PBF Energy by 0.8% in the first quarter. Northern Trust Corp now owns 1,390,455 shares of the oil and gas company's stock valued at $26,544,000 after purchasing an additional 11,499 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $30.74 on Tuesday. The firm's fifty day simple moving average is $25.60 and its 200-day simple moving average is $21.87. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -3.58 and a beta of 0.97. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The business had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company's quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) EPS. As a group, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy's payout ratio is currently -12.81%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PBF shares. Wells Fargo & Company lifted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley lifted their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Bank of America lifted their price target on shares of PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a research note on Wednesday, September 3rd. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 price target for the company. in a research note on Monday, September 15th. Finally, Citigroup lifted their price target on shares of PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $25.54.

About PBF Energy

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.

Want to see what other hedge funds are holding PBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Energy Inc. (NYSE:PBF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.