Municipal Employees Retirement System of Michigan Invests $941,000 in PBF Energy Inc (PBF) Stock
Municipal Employees Retirement System of Michigan purchased a new stake in shares of PBF Energy Inc (NYSE:PBF) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 28,800 shares of the oil and gas company’s stock, valued at approximately $941,000.
A number of other hedge funds have also recently added to or reduced their stakes in PBF. Oregon Public Employees Retirement Fund grew its position in PBF Energy by 3,260.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,389 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 1,521,723 shares during the period. Penserra Capital Management LLC grew its position in PBF Energy by 675.4% during the fourth quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 3,296 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in PBF Energy by 53.5% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,790 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 1,670 shares during the period. First Foundation Advisors acquired a new stake in PBF Energy during the third quarter valued at $207,000. Finally, Great Lakes Advisors LLC acquired a new stake in PBF Energy during the third quarter valued at $221,000. Institutional investors own 95.29% of the company’s stock.
Several analysts recently commented on the stock. TheStreet lowered shares of PBF Energy from a “b” rating to a “c+” rating in a research report on Friday, February 15th. Tudor Pickering lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Barclays reiterated a “buy” rating and issued a $62.00 target price on shares of PBF Energy in a research report on Friday, January 11th. Goldman Sachs Group lowered shares of PBF Energy from a “neutral” rating to a “sell” rating and dropped their target price for the company from $35.00 to $34.00 in a research report on Friday, January 25th. Finally, ValuEngine upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. PBF Energy currently has a consensus rating of “Hold” and an average price target of $48.40.
Shares of NYSE PBF opened at $32.40 on Wednesday. PBF Energy Inc has a 52-week low of $28.66 and a 52-week high of $53.91. The stock has a market capitalization of $3.82 billion, a PE ratio of 9.94, a P/E/G ratio of 0.52 and a beta of 1.38. The company has a current ratio of 1.52, a quick ratio of 0.64 and a debt-to-equity ratio of 0.59.
PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 14th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.26. PBF Energy had a net margin of 0.47% and a return on equity of 11.96%. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the business earned ($0.04) earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts predict that PBF Energy Inc will post 2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 28th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.20 dividend on an annualized basis and a yield of 3.70%. PBF Energy’s payout ratio is presently 36.81%.
PBF Energy Profile
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.
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