State of New Jersey Common Pension Fund D Purchases 18,173 Shares of PBF Energy Inc. (NYSE:PBF)

State of New Jersey Common Pension Fund D lifted its holdings in PBF Energy Inc. (NYSE:PBF - Free Report) by 44.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,424 shares of the oil and gas company's stock after purchasing an additional 18,173 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of PBF Energy worth $1,839,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in PBF Energy by 32.9% in the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company's stock valued at $64,489,000 after purchasing an additional 347,268 shares in the last quarter. LSV Asset Management lifted its stake in PBF Energy by 2.7% in the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company's stock valued at $59,409,000 after acquiring an additional 34,470 shares during the last quarter. American Century Companies Inc. grew its position in shares of PBF Energy by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company's stock valued at $45,712,000 after acquiring an additional 32,862 shares during the period. Private Management Group Inc. increased its stake in shares of PBF Energy by 27.5% during the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company's stock worth $26,267,000 after purchasing an additional 183,183 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of PBF Energy by 14.8% in the 2nd quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company's stock valued at $29,883,000 after purchasing an additional 84,532 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

PBF Energy Stock Performance

Shares of PBF traded down $0.05 during mid-day trading on Tuesday, hitting $31.40. 1,130,966 shares of the company's stock were exchanged, compared to its average volume of 2,178,781. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -12.15 and a beta of 1.56. The stock's 50-day simple moving average is $31.58 and its 200-day simple moving average is $38.27. PBF Energy Inc. has a 52 week low of $27.94 and a 52 week high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business's revenue was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.61 earnings per share. On average, equities research analysts expect that PBF Energy Inc. will post -2.79 EPS for the current year.

PBF Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from PBF Energy's previous quarterly dividend of $0.25. PBF Energy's dividend payout ratio is -42.47%.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital bought 85,000 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $28.37 per share, for a total transaction of $2,411,450.00. Following the completion of the transaction, the insider now directly owns 26,197,498 shares of the company's stock, valued at approximately $743,223,018.26. This represents a 0.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders acquired 4,492,400 shares of company stock valued at $142,172,797. Corporate insiders own 6.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PBF. Mizuho reduced their price target on PBF Energy from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a "hold" rating to a "sell" rating in a report on Monday, September 9th. Wells Fargo & Company cut their price target on PBF Energy from $51.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. UBS Group reduced their price objective on shares of PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, August 13th. Finally, Piper Sandler lowered shares of PBF Energy from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $34.18.

PBF Energy Company 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.