PBF Energy Inc (PBF) Shares Bought by Utah Retirement Systems

Utah Retirement Systems boosted its position in shares of PBF Energy Inc (NYSE:PBF) by 7.3% in the third quarter, HoldingsChannel.com reports. The fund owned 22,100 shares of the oil and gas company’s stock after purchasing an additional 1,500 shares during the period. Utah Retirement Systems’ holdings in PBF Energy were worth $1,103,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PBF. Massachusetts Financial Services Co. MA boosted its holdings in PBF Energy by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 32,946 shares of the oil and gas company’s stock valued at $1,382,000 after acquiring an additional 4,512 shares during the period. Aperio Group LLC boosted its holdings in PBF Energy by 16.7% during the 2nd quarter. Aperio Group LLC now owns 38,434 shares of the oil and gas company’s stock valued at $1,612,000 after acquiring an additional 5,507 shares during the period. First Trust Advisors LP boosted its holdings in PBF Energy by 55.6% during the 2nd quarter. First Trust Advisors LP now owns 483,480 shares of the oil and gas company’s stock valued at $20,272,000 after acquiring an additional 172,812 shares during the period. Virginia Retirement Systems ET AL purchased a new position in PBF Energy during the 2nd quarter valued at about $1,342,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in PBF Energy during the 2nd quarter valued at about $1,270,000. Institutional investors own 93.18% of the company’s stock.

Shares of PBF opened at $33.75 on Friday. 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 stock has a market capitalization of $4.22 billion, a PE ratio of 29.61, a P/E/G ratio of 0.78 and a beta of 1.46. PBF Energy Inc has a 1 year low of $28.25 and a 1 year high of $53.91.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.10. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.21 billion. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. As a group, sell-side analysts expect that PBF Energy Inc will post 2.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Wednesday, November 14th. PBF Energy’s payout ratio is presently 105.26%.

A number of equities analysts recently commented on PBF shares. Credit Suisse Group raised their target price on PBF Energy from $46.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, October 5th. Wells Fargo & Co lowered their target price on PBF Energy from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Friday, August 10th. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating in a report on Friday, September 7th. Morgan Stanley set a $54.00 price objective on PBF Energy and gave the company a “sell” rating in a research note on Friday, October 12th. Finally, Citigroup lifted their price objective on PBF Energy from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $45.25.

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PBF Energy Company 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.

Further Reading: The Discount Rate – What You Need to Know

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

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