Paul Davis Sells 50,000 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 50,000 shares of PBF Energy stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $44.80, for a total value of $2,240,000.00. Following the completion of the transaction, the senior vice president owned 183,426 shares in the company, valued at $8,217,484.80. The trade was a 21.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PBF Energy Trading Down 5.3%

Shares of NYSE PBF traded down $2.44 during mid-day trading on Friday, hitting $43.22. 4,534,697 shares of the company traded hands, compared to its average volume of 3,266,505. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $47.18. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of -29.40, a PEG ratio of 6.12 and a beta of 0.41. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $33.46 and a two-hundred day moving average of $31.83.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the business posted ($2.82) EPS. PBF Energy’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s payout ratio is presently -74.83%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PBF. Piper Sandler raised their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. BMO Capital Markets reiterated a “market perform” rating and issued a $34.00 target price on shares of PBF Energy in a report on Monday, January 5th. Finally, Wolfe Research lowered shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a research report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $30.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares in the last quarter. Torren Management LLC acquired a new position in PBF Energy in the fourth quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy during the fourth quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators raised its position in PBF Energy by 62.3% during the third 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. Finally, Hantz Financial Services Inc. lifted its stake in PBF Energy by 235.7% in the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 912 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.