PBF Energy (NYSE:PBF) CEO Matthew Lucey Sells 225,473 Shares of Stock

PBF Energy Inc. (NYSE:PBF) CEO Matthew Lucey sold 225,473 shares of PBF Energy stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $71.92, for a total value of $16,216,018.16. Following the completion of the transaction, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at approximately $35,655,850.32. This trade represents a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

PBF Energy Trading Down 3.1%

Shares of NYSE:PBF traded down $2.10 during midday trading on Tuesday, reaching $65.81. The company’s stock had a trading volume of 4,170,256 shares, compared to its average volume of 3,389,574. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 0.12 and a beta of 0.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The firm has a 50 day moving average price of $49.75 and a two-hundred day moving average price of $43.23. PBF Energy Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $74.74.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm’s revenue was up 56.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.03) earnings per share. As a group, analysts forecast that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

Institutional Trading of PBF Energy

Several hedge funds have recently bought and sold shares of PBF. Wedge Capital Management L L P NC raised its holdings in PBF Energy by 19.3% during the second quarter. Wedge Capital Management L L P NC now owns 43,848 shares of the oil and gas company’s stock worth $1,996,000 after buying an additional 7,107 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 242 shares during the last quarter. Bull Harbor Capital LLC acquired a new position in shares of PBF Energy during the first quarter valued at about $212,000. Amundi acquired a new position in shares of PBF Energy during the first quarter valued at about $1,574,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 931 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PBF shares. The Goldman Sachs Group boosted their target price on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Citigroup increased their price objective on shares of PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $50.15.

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.