Insider Selling: PBF Energy (NYSE:PBF) Insider Sells 106,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 106,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $33.73, for a total transaction of $3,575,380.00. Following the transaction, the insider owned 30,667,498 shares of the company’s stock, valued at $1,034,414,707.54. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Control Empresarial De Capital also recently made the following trade(s):

• On Wednesday, January 14th, Control Empresarial De Capital sold 260,000 shares of PBF Energy stock. The stock was sold at an average price of $33.17, for a total transaction of $8,624,200.00.
• On Friday, January 9th, Control Empresarial De Capital sold 50,000 shares of PBF Energy stock. The shares were sold at an average price of $32.31, for a total transaction of $1,615,500.00.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $1.20 during trading on Thursday, hitting $31.22. 2,085,581 shares of the company were exchanged, compared to its average volume of 4,843,698. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $32.03 and a 200 day moving average price of $29.09. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -6.71, a P/E/G ratio of 1.19 and a beta of 0.47.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the prior year, the firm earned ($1.50) EPS. PBF Energy’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, November 14th. PBF Energy’s dividend payout ratio is -23.66%.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after buying an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PBF Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after acquiring an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in PBF Energy by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after purchasing an additional 12,289 shares during the period. Acadian Asset Management LLC increased its holdings in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,354 shares in the last quarter. Finally, Strs Ohio purchased a new position in PBF Energy in the first quarter valued at about $473,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PBF. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the stock an “underweight” rating in a research report on Friday, October 3rd. Scotiabank raised their price objective on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. UBS Group upped 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. The Goldman Sachs Group raised their price target on PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Citigroup upped their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $30.14.

PBF Energy Company Profile

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.