State of Wisconsin Investment Board reduced its stake in PBF Energy Inc. (NYSE:PBF) by 59.1% during the first quarter, Holdings Channel reports. The fund owned 21,648 shares of the oil and gas company’s stock after selling 31,231 shares during the period. State of Wisconsin Investment Board’s holdings in PBF Energy were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Advantage Investment Management LLC increased its stake in shares of PBF Energy by 10.6% in the first quarter. Advantage Investment Management LLC now owns 158,836 shares of the oil and gas company’s stock valued at $3,521,000 after buying an additional 15,235 shares during the last quarter. Symphony Asset Management LLC increased its stake in shares of PBF Energy by 42.1% in the first quarter. Symphony Asset Management LLC now owns 40,696 shares of the oil and gas company’s stock valued at $902,000 after buying an additional 12,065 shares during the last quarter. IMS Capital Management purchased a new stake in shares of PBF Energy during the first quarter valued at about $207,000. Karp Capital Management Corp purchased a new stake in shares of PBF Energy during the first quarter valued at about $391,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of PBF Energy by 36.3% in the first quarter. UBS Asset Management Americas Inc. now owns 116,373 shares of the oil and gas company’s stock valued at $2,580,000 after buying an additional 30,997 shares during the last quarter.

Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

PBF Energy Inc. (PBF) opened at 21.82 on Friday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 13.06 and a beta of 1.42. PBF Energy Inc. has a one year low of $18.48 and a one year high of $30.98. The company’s 50-day moving average is $21.32 and its 200 day moving average is $23.22.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.26. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. The firm’s quarterly revenue was up 69.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.65) EPS. Equities analysts expect that PBF Energy Inc. will post $1.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 5.50%. PBF Energy’s dividend payout ratio (DPR) is presently 68.97%.

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Several brokerages have issued reports on PBF. BidaskClub raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 price objective on shares of PBF Energy in a research note on Thursday, June 1st. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of PBF Energy in a research report on Thursday, May 25th. US Capital Advisors reaffirmed a “hold” rating on shares of PBF Energy in a research report on Monday, May 22nd. Finally, Scotiabank set a $24.00 target price on shares of PBF Energy and gave the stock a “buy” rating in a research report on Saturday, May 6th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.95.

In other PBF Energy news, insider Connor Thomas L. O bought 10,000 shares of PBF Energy stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $20.17 per share, for a total transaction of $201,700.00. Following the acquisition, the insider now directly owns 105,135 shares in the company, valued at $2,120,572.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Nimbley bought 50,000 shares of PBF Energy stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the acquisition, the chief executive officer now owns 290,000 shares in the company, valued at $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is owned by corporate 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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