Insider Buying: PBF Energy Inc. (NYSE:PBF) Insider Acquires 38,000 Shares of Stock

PBF Energy Inc. (NYSE:PBFGet Free Report) insider Control Empresarial De Capital purchased 38,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of $43.65 per share, with a total value of $1,658,700.00. Following the completion of the purchase, the insider now directly owns 16,042,098 shares of the company’s stock, valued at approximately $700,237,577.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Friday, June 14th, Control Empresarial De Capital purchased 600,000 shares of PBF Energy stock. The stock was purchased at an average price of $44.13 per share, with a total value of $26,478,000.00.
  • On Wednesday, June 12th, Control Empresarial De Capital purchased 403,400 shares of PBF Energy stock. The stock was purchased at an average price of $44.36 per share, with a total value of $17,894,824.00.
  • On Monday, June 10th, Control Empresarial De Capital purchased 7,500 shares of PBF Energy stock. The stock was purchased at an average price of $45.65 per share, with a total value of $342,375.00.
  • On Friday, June 7th, Control Empresarial De Capital purchased 51,000 shares of PBF Energy stock. The stock was purchased at an average price of $46.19 per share, with a total value of $2,355,690.00.
  • On Wednesday, June 5th, Control Empresarial De Capital purchased 200,000 shares of PBF Energy stock. The stock was purchased at an average price of $45.37 per share, with a total value of $9,074,000.00.
  • On Monday, June 3rd, Control Empresarial De Capital bought 84,000 shares of PBF Energy stock. The stock was acquired at an average cost of $44.96 per share, for a total transaction of $3,776,640.00.

PBF Energy Stock Performance

Shares of NYSE:PBF traded down $0.92 on Tuesday, hitting $43.09. 1,703,974 shares of the company were exchanged, compared to its average volume of 2,042,988. The company’s 50 day moving average price is $51.10 and its two-hundred day moving average price is $49.39. PBF Energy Inc. has a one year low of $38.63 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.54. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 2.98 and a beta of 1.63.

PBF Energy (NYSE:PBFGet Free Report) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. The business had revenue of $8.65 billion for the quarter, compared to analysts’ expectations of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. Research analysts expect that PBF Energy Inc. will post 7.19 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 2.32%. PBF Energy’s dividend payout ratio is currently 6.92%.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently bought and sold shares of PBF. GAMMA Investing LLC increased its position in shares of PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of PBF Energy during the first quarter worth $27,000. Creekmur Asset Management LLC bought a new stake in shares of PBF Energy during the fourth quarter worth $29,000. Fortitude Family Office LLC bought a new stake in shares of PBF Energy during the fourth quarter worth $44,000. Finally, Fifth Third Bancorp increased its position in shares of PBF Energy by 30.4% during the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 222 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PBF shares. Piper Sandler cut their target price on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday. TD Cowen cut their target price on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company cut their target price on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. JPMorgan Chase & Co. raised their target price on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.18.

Get Our Latest Report on PBF

About PBF Energy

(Get Free Report)

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.

Further Reading

Insider Buying and Selling by Quarter for PBF Energy (NYSE:PBF)

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