Vestcor Inc Increases Stock Position in PBF Energy Inc. (NYSE:PBF)

Vestcor Inc increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 1,513.2% in the 3rd quarter, Holdings Channel reports. The firm owned 14,712 shares of the oil and gas company’s stock after buying an additional 13,800 shares during the period. Vestcor Inc’s holdings in PBF Energy were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. National Bank of Canada FI bought a new position in shares of PBF Energy during the 2nd quarter valued at $26,000. Quarry LP purchased a new stake in PBF Energy during the third quarter valued at $48,000. CWM LLC lifted its holdings in PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the period. Harbor Capital Advisors Inc. purchased a new position in PBF Energy in the third quarter worth about $59,000. Finally, Blue Trust Inc. grew its stake in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,027 shares during the period. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Mizuho decreased their target price on PBF Energy from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Finally, Bank of America assumed coverage on PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.27.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 287,100 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average price of $31.91 per share, for a total transaction of $9,161,361.00. Following the acquisition, the insider now owns 24,751,498 shares in the company, valued at $789,820,301.18. This trade represents a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders acquired 3,568,100 shares of company stock valued at $111,183,331. 5.30% of the stock is owned by corporate insiders.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $29.26 on Friday. The company has a market cap of $3.37 billion, a P/E ratio of -11.46 and a beta of 1.57. PBF Energy Inc. has a 52-week low of $27.94 and a 52-week high of $62.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The firm’s fifty day moving average is $31.33 and its two-hundred day moving average is $36.13.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm posted $6.61 earnings per share. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year. As a group, analysts anticipate that PBF Energy Inc. will post -2.86 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. This is an increase from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Wednesday, November 13th. PBF Energy’s dividend payout ratio is currently -42.47%.

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.