Texas Permanent School Fund reduced its position in PBF Energy Inc (NYSE:PBF) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,364 shares of the oil and gas company’s stock after selling 11,975 shares during the quarter. Texas Permanent School Fund’s holdings in PBF Energy were worth $1,886,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PBF. Invesco Ltd. grew its holdings in PBF Energy by 29.9% in the 2nd quarter. Invesco Ltd. now owns 2,297,906 shares of the oil and gas company’s stock valued at $71,924,000 after buying an additional 528,380 shares in the last quarter. Van ECK Associates Corp grew its holdings in PBF Energy by 97.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,217,755 shares of the oil and gas company’s stock valued at $38,116,000 after buying an additional 599,870 shares in the last quarter. Towle & Co. grew its holdings in PBF Energy by 132.0% in the 2nd quarter. Towle & Co. now owns 1,150,514 shares of the oil and gas company’s stock valued at $36,011,000 after buying an additional 654,670 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in PBF Energy in the 2nd quarter valued at $32,081,000. Finally, Prudential PLC grew its holdings in PBF Energy by 9.7% in the 2nd quarter. Prudential PLC now owns 1,016,100 shares of the oil and gas company’s stock valued at $31,804,000 after buying an additional 90,000 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on PBF shares. JPMorgan Chase & Co. set a $30.00 target price on PBF Energy and gave the company a “sell” rating in a report on Friday, November 1st. Wells Fargo & Co upped their target price on PBF Energy from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Royal Bank of Canada set a $32.00 target price on PBF Energy and gave the company a “hold” rating in a report on Friday, November 1st. ValuEngine cut PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price for the company in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.67.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.29 billion. PBF Energy had a positive return on equity of 4.77% and a negative net margin of 0.36%. The company’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 EPS. Research analysts predict that PBF Energy Inc will post 0.77 EPS for the current year.
The firm also recently declared a dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This is a boost from PBF Energy’s previous dividend of $0.29. PBF Energy’s dividend payout ratio is currently 36.81%.
In other PBF Energy news, insider Carso S.A. De C.V. Inversora purchased 350,000 shares of the stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $23.01 per share, for a total transaction of $8,053,500.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 1,302,524 shares of company stock valued at $30,417,578. Company insiders own 3.50% of the company’s stock.
PBF Energy Company Profile
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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