California Public Employees Retirement System Sells 19,672 Shares of PBF Energy Inc. (NYSE:PBF)

California Public Employees Retirement System cut its stake in PBF Energy Inc. (NYSE:PBF - Free Report) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,535 shares of the oil and gas company's stock after selling 19,672 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of PBF Energy worth $4,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heartland Advisors Inc. acquired a new stake in shares of PBF Energy during the 4th quarter valued at about $1,420,000. New Age Alpha Advisors LLC acquired a new stake in PBF Energy in the fourth quarter valued at approximately $449,000. Norges Bank bought a new stake in PBF Energy in the fourth quarter worth approximately $20,896,000. JPMorgan Chase & Co. increased its stake in shares of PBF Energy by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company's stock worth $39,628,000 after purchasing an additional 562,287 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of PBF Energy during the 4th quarter valued at $213,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Price Performance

Shares of PBF traded up $0.13 during mid-day trading on Monday, reaching $15.54. The company had a trading volume of 233,631 shares, compared to its average volume of 2,883,541. The company's 50-day moving average is $21.02 and its 200-day moving average is $26.89. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $60.61. The company has a market capitalization of $1.79 billion, a P/E ratio of -3.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. On average, equities analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy's dividend payout ratio (DPR) is currently -23.35%.

Analyst Ratings Changes

Several equities analysts have commented on PBF shares. Piper Sandler lowered their target price on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, March 7th. TD Cowen cut their price objective on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. Scotiabank decreased their target price on PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a research report on Friday. The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, Morgan Stanley dropped their target price on shares of PBF Energy from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, PBF Energy currently has a consensus rating of "Hold" and a consensus price target of $24.18.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 16,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $13.88 per share, with a total value of $222,080.00. Following the completion of the purchase, the insider now owns 30,737,998 shares in the company, valued at approximately $426,643,412.24. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 812,000 shares of company stock valued at $20,207,980 in the last three months. 5.30% of the stock is owned by corporate insiders.

PBF Energy Profile

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.