PBF Energy (NYSE:PBF) Insider Sells 270,000 Shares

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 270,000 shares of PBF Energy stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $53.18, for a total value of $14,358,600.00. Following the completion of the transaction, the insider directly owned 15,812,128 shares in the company, valued at approximately $840,888,967.04. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The shares were sold at an average price of $52.29, for a total value of $19,870,200.00.
• On Monday, July 6th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $49.14, for a total transaction of $9,828,000.00.
• On Wednesday, July 1st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $46.94, for a total transaction of $9,388,000.00.
• On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The shares were sold at an average price of $46.65, for a total transaction of $13,062,000.00.
• On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00.
• On Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $42.79, for a total transaction of $8,558,000.00.
• On Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The stock was sold at an average price of $42.01, for a total value of $8,635,995.70.
• On Friday, June 5th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The shares were sold at an average price of $43.17, for a total value of $4,317,000.00.
• On Wednesday, June 3rd, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $43.58, for a total value of $9,587,600.00.
• On Tuesday, June 2nd, Control Empresarial De Capital sold 31,000 shares of PBF Energy stock. The shares were sold at an average price of $43.56, for a total value of $1,350,360.00.

PBF Energy Stock Performance

PBF stock traded down $0.17 during midday trading on Friday, hitting $53.14. The stock had a trading volume of 1,691,795 shares, compared to its average volume of 3,378,250. PBF Energy Inc. has a 52 week low of $21.24 and a 52 week high of $54.82. 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 stock has a 50-day simple moving average of $42.53 and a 200 day simple moving average of $39.08. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 0.16 and a beta of 0.11.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.53) EPS. As a group, equities research analysts anticipate that PBF Energy Inc. will post 8.55 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio is 29.65%.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in shares of PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 242 shares during the last quarter. Bull Harbor Capital LLC bought a new stake in PBF Energy in the first quarter valued at about $212,000. Amundi acquired a new position in PBF Energy in the first quarter valued at about $1,574,000. EverSource Wealth Advisors LLC boosted its holdings in PBF Energy by 24.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock worth $225,000 after buying an additional 931 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in PBF Energy by 23.6% during the first quarter. California State Teachers Retirement System now owns 101,282 shares of the oil and gas company’s stock worth $4,823,000 after buying an additional 19,354 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PBF has been the topic of several analyst reports. Citigroup upped their price objective on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Scotiabank raised their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets upped their price target on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Mizuho upped their price target on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Zacks Research lowered shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $36.69.

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.