Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $19,870,200.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $52.29, for a total value of $19,870,200.00. Following the completion of the sale, the insider directly owned 16,082,128 shares of the company’s stock, valued at $840,934,473.12. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, July 9th, Control Empresarial De Capital sold 270,000 shares of PBF Energy stock. The shares were sold at an average price of $53.18, for a total value of $14,358,600.00.
• 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 value 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 stock was 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 shares were 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 transaction of $8,635,995.70.
• On Friday, June 5th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $43.17, for a total transaction of $4,317,000.00.
• On Wednesday, June 3rd, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $43.58, for a total transaction of $9,587,600.00.
• On Tuesday, June 2nd, Control Empresarial De Capital sold 31,000 shares of PBF Energy stock. The stock was sold at an average price of $43.56, for a total transaction of $1,350,360.00.

PBF Energy Stock Down 0.1%

Shares of NYSE:PBF opened at $53.14 on Monday. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $54.82. The business has a 50 day simple moving average of $42.73 and a two-hundred day simple moving average of $39.27. The firm has a market capitalization of $6.29 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.16 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the prior year, the company posted ($3.53) EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that PBF Energy Inc. will post 8.26 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.

Key Stories Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF Energy stock has benefited from a rise in refining-related optimism, with a recent report noting that the end of the U.S.-Iran ceasefire helped boost energy shares and “gushed” PBF higher this week. Article Title
• Positive Sentiment: Wall Street Zen upgraded PBF Energy from “hold” to “buy,” adding to a generally constructive backdrop for the stock.
• Positive Sentiment: Recent strength in crack spreads and broader refining business trends continue to support sentiment toward PBF Energy’s earnings power. Article Title

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. The Goldman Sachs Group initiated coverage on shares of PBF Energy in a report on Friday, April 10th. They set a “neutral” rating and a $49.00 price objective for the company. Zacks Research cut shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Scotiabank upped their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Mizuho raised their target price on shares of PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $36.69.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Torren Management LLC bought a new stake in shares of PBF Energy in the fourth quarter valued at about $30,000. Los Angeles Capital Management LLC purchased a new stake in PBF Energy in the fourth quarter worth about $31,000. Leonteq Securities AG bought a new position in PBF Energy during the 1st quarter worth about $33,000. Smartleaf Asset Management LLC grew its holdings in PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in PBF Energy during the 4th quarter valued at about $57,000. 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.