Teacher Retirement System of Texas Buys 8,916 Shares of PBF Energy Inc. (NYSE:PBF)

Posted by Defense World Staff on Oct 5th, 2023

Teacher Retirement System of Texas lifted its stake in shares of PBF Energy Inc. (NYSE:PBF – Free Report) by 20.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,014 shares of the oil and gas company’s stock after acquiring an additional 8,916 shares during the quarter. Teacher Retirement System of Texas’ holdings in PBF Energy were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PBF. Tucker Asset Management LLC bought a new stake in PBF Energy in the first quarter worth approximately $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of PBF Energy during the first quarter valued at approximately $48,000. IFP Advisors Inc increased its holdings in shares of PBF Energy by 250.0% during the first quarter. IFP Advisors Inc now owns 1,057 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 755 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of PBF Energy during the first quarter valued at approximately $76,000. Finally, Spire Wealth Management increased its holdings in shares of PBF Energy by 41.0% during the first quarter. Spire Wealth Management now owns 2,207 shares of the oil and gas company’s stock valued at $96,000 after acquiring an additional 642 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

PBF Energy Stock Down 7.5 %

Shares of NYSE PBF opened at $45.65 on Thursday. PBF Energy Inc. has a one year low of $31.25 and a one year high of $56.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.47 and a quick ratio of 0.81. The business’s fifty day moving average price is $49.71 and its 200-day moving average price is $42.94. The stock has a market capitalization of $5.64 billion, a PE ratio of 1.90 and a beta of 1.84.

PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.07. PBF Energy had a return on equity of 42.15% and a net margin of 7.36%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $8.93 billion. During the same quarter in the prior year, the firm earned $10.58 EPS. The business’s revenue for the quarter was down 34.9% compared to the same quarter last year. On average, equities research analysts anticipate that PBF Energy Inc. will post 11.64 EPS for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.75%. PBF Energy’s dividend payout ratio is presently 3.33%.

Insider Activity

In other news, SVP Connor Thomas L. O sold 50,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $54.84, for a total transaction of $2,742,000.00. Following the transaction, the senior vice president now owns 117,503 shares of the company’s stock, valued at approximately $6,443,864.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

PBF has been the subject of several recent research reports. Piper Sandler boosted their price objective on PBF Energy from $58.00 to $62.00 in a report on Friday, August 4th. Mizuho lifted their target price on PBF Energy from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, September 18th. The Goldman Sachs Group lifted their target price on PBF Energy from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, September 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 target price on shares of PBF Energy in a research report on Wednesday, July 19th. Finally, UBS Group cut their target price on PBF Energy from $53.00 to $48.00 in a research report on Friday, June 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.67.

Get Our Latest Stock Report on PBF

About PBF Energy

(Free Report)

PBF Energy Inc, together with 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.