PBF Energy (NYSE:PBF) Trading Down 9.3% on Insider Selling

PBF Energy Inc. (NYSE:PBF) shares traded down 9.3% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $41.32 and last traded at $41.9110. 729,304 shares changed hands during trading, a decline of 80% from the average session volume of 3,675,110 shares. The stock had previously closed at $46.19.

Specifically, insider Control Empresarial De Capital sold 200,000 shares of PBF Energy stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $8,974,000.00. Following the completion of the sale, the insider directly owned 18,688,698 shares of the company’s stock, valued at approximately $838,561,879.26. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Control Empresarial De Capital sold 220,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.91, for a total transaction of $10,100,200.00. Following the sale, the insider owned 18,468,698 shares in the company, valued at $847,897,925.18. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other PBF Energy news, insider Control Empresarial De Capital sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $44.41, for a total transaction of $133,230.00. Following the sale, the insider directly owned 18,888,698 shares in the company, valued at $838,847,078.18. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

PBF has been the subject of several analyst reports. Wall Street Zen cut shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Citigroup lifted their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Morgan Stanley boosted their target price on shares of PBF Energy from $27.00 to $34.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Piper Sandler raised their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, TD Cowen decreased their price target on PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Reduce” and a consensus price target of $35.92.

PBF Energy Trading Up 0.3%

The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $43.05 and a 200-day moving average price of $36.29. The firm has a market capitalization of $4.76 billion, a PE ratio of 10.97, a P/E/G ratio of 0.17 and a beta of 0.15.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the previous year, the company posted ($3.53) EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that PBF Energy Inc. will post 6.21 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be issued a $0.275 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. PBF Energy’s dividend payout ratio is currently 29.65%.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the last quarter. Torren Management LLC purchased a new stake in shares of PBF Energy in the 4th quarter worth about $30,000. Los Angeles Capital Management LLC acquired a new stake in PBF Energy in the 4th quarter valued at about $31,000. Leonteq Securities AG purchased a new position in PBF Energy during the 1st quarter valued at about $33,000. Finally, Deseret Mutual Benefit Administrators increased its holdings in PBF Energy by 62.3% during the 3rd 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. 96.29% of the stock is owned by hedge funds and other institutional investors.

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.