Retirement Systems of Alabama Has $3 Million Stock Holdings in PBF Energy Inc. $PBF

Retirement Systems of Alabama lowered its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 17.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 99,320 shares of the oil and gas company’s stock after selling 20,824 shares during the period. Retirement Systems of Alabama’s holdings in PBF Energy were worth $2,996,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in shares of PBF Energy during the 3rd quarter worth approximately $3,890,000. Deseret Mutual Benefit Administrators increased its stake in shares of PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 440 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of PBF Energy by 264.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,856 shares of the oil and gas company’s stock valued at $2,922,000 after acquiring an additional 70,312 shares during the period. Hara Capital LLC boosted its stake in PBF Energy by 1.4% during the third quarter. Hara Capital LLC now owns 596,369 shares of the oil and gas company’s stock worth $17,992,000 after acquiring an additional 8,360 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in PBF Energy by 34.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,855 shares of the oil and gas company’s stock worth $388,000 after acquiring an additional 3,277 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 0.7%

PBF opened at $33.49 on Friday. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The firm has a market capitalization of $3.88 billion, a PE ratio of -7.20, a P/E/G ratio of 5.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The company’s 50-day moving average is $30.66 and its 200 day moving average is $29.67.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.50) EPS. As a group, research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

Insider Activity at PBF Energy

In other PBF Energy news, Director Thomas J. Nimbley sold 250,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the transaction, the director directly owned 790,716 shares in the company, valued at approximately $27,287,609.16. This trade represents a 24.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul T. Davis sold 50,000 shares of PBF Energy stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the senior vice president directly owned 192,391 shares in the company, valued at $7,310,858. This represents a 20.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 894,624 shares of company stock valued at $30,997,335 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PBF. Wall Street Zen raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group raised their target price on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Scotiabank upped their price target on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. TD Cowen reiterated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a research note on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $30.14.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.