PBF Energy Inc (PBF) Position Lifted by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System increased its holdings in shares of PBF Energy Inc (NYSE:PBF) by 30.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,688 shares of the oil and gas company’s stock after acquiring an additional 34,571 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in PBF Energy were worth $7,421,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of PBF Energy by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 487,118 shares of the oil and gas company’s stock valued at $16,513,000 after buying an additional 14,842 shares during the period. State of Alaska Department of Revenue grew its stake in shares of PBF Energy by 39.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,020 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 3,430 shares during the period. Bank of Montreal Can grew its stake in shares of PBF Energy by 102.2% in the 2nd quarter. Bank of Montreal Can now owns 128,096 shares of the oil and gas company’s stock valued at $5,372,000 after buying an additional 64,739 shares during the period. Capital One National Association purchased a new stake in shares of PBF Energy in the 2nd quarter valued at approximately $1,669,000. Finally, Smithfield Trust Co. purchased a new stake in shares of PBF Energy in the 2nd quarter valued at approximately $121,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PBF opened at $38.34 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.79 and a quick ratio of 0.83. The company has a market cap of $4.69 billion, a P/E ratio of 33.63, a P/E/G ratio of 0.83 and a beta of 1.51. PBF Energy Inc has a fifty-two week low of $28.25 and a fifty-two week high of $53.91.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.10. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.21 billion. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter last year, the company posted $1.44 EPS. As a group, equities analysts forecast that PBF Energy Inc will post 3.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. PBF Energy’s payout ratio is currently 105.26%.

Several research firms have recently weighed in on PBF. Citigroup increased their price target on shares of PBF Energy from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, August 15th. Mizuho began coverage on shares of PBF Energy in a research note on Wednesday, August 1st. They issued a “buy” rating and a $55.00 price target for the company. Morgan Stanley set a $54.00 price target on shares of PBF Energy and gave the company a “sell” rating in a research note on Friday, October 12th. Goldman Sachs Group raised shares of PBF Energy from a “sell” rating to a “neutral” rating in a research note on Friday, September 7th. Finally, Wells Fargo & Co dropped their price target on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.58.

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PBF Energy Profile

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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