Teacher Retirement System of Texas raised its stake in shares of PBF Energy Inc. (NYSE:PBF) by 14.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,726 shares of the company’s stock after buying an additional 1,782 shares during the period. Teacher Retirement System of Texas’ holdings in PBF Energy were worth $326,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Huntington National Bank acquired a new position in PBF Energy during the second quarter valued at about $109,000. Acrospire Investment Management LLC acquired a new position in PBF Energy during the first quarter valued at about $130,000. M&T Bank Corp acquired a new position in PBF Energy during the first quarter valued at about $201,000. Oppenheimer & Co. Inc. acquired a new position in PBF Energy during the second quarter valued at about $202,000. Finally, Advisory Services Network LLC raised its position in PBF Energy by 13.9% in the second quarter. Advisory Services Network LLC now owns 9,403 shares of the company’s stock valued at $224,000 after buying an additional 1,150 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.
Shares of PBF Energy Inc. (NYSE:PBF) opened at 20.05 on Friday. The company’s market cap is $1.96 billion. PBF Energy Inc. has a 12 month low of $19.47 and a 12 month high of $41.75. The stock’s 50 day moving average is $22.11 and its 200-day moving average is $25.56.
PBF Energy (NYSE:PBF) last announced its earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.73. The firm earned $3.86 billion during the quarter, compared to analyst estimates of $3.06 billion. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 9.19%. PBF Energy’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities analysts forecast that PBF Energy Inc. will post ($0.29) EPS for the current year.
PBF has been the subject of several recent research reports. Credit Suisse Group AG reiterated a “buy” rating and set a $32.00 target price on shares of PBF Energy in a report on Thursday, June 16th. Barclays PLC reiterated an “equal weight” rating and set a $26.00 target price on shares of PBF Energy in a report on Monday, August 1st. Deutsche Bank AG lowered their target price on shares of PBF Energy from $28.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, September 15th. Tudor Pickering lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Finally, Wolfe Research lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.33.
In other news, insider Connor Thomas L. O bought 10,000 shares of the stock in a transaction on Friday, September 9th. The stock was bought at an average cost of $21.73 per share, for a total transaction of $217,300.00. Following the completion of the purchase, the insider now directly owns 50,000 shares in the company, valued at $1,086,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Nimbley bought 50,000 shares of the stock in a transaction on Friday, September 9th. The stock was purchased at an average price of $21.84 per share, with a total value of $1,092,000.00. Following the completion of the purchase, the chief executive officer now owns 160,000 shares of the company’s stock, valued at $3,494,400. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by company insiders.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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