Paul Davis Sells 50,000 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 50,000 shares of PBF Energy stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the senior vice president directly owned 192,391 shares in the company, valued at approximately $7,310,858. The trade was a 20.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

PBF Energy Stock Down 3.4%

Shares of PBF stock opened at $37.41 on Friday. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $41.47. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $31.70 and a 200-day moving average of $25.72. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -8.05 and a beta of 0.79.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm’s revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.50) EPS. As a group, equities research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. PBF Energy’s dividend payout ratio is currently -23.66%.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in PBF Energy by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after acquiring an additional 260,464 shares during the period. M&T Bank Corp acquired a new position in shares of PBF Energy during the 1st quarter worth approximately $300,000. Intech Investment Management LLC grew its position in shares of PBF Energy by 27.3% during the 1st quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company’s stock worth $2,279,000 after purchasing an additional 25,616 shares in the last quarter. VR Advisory Services Ltd increased its holdings in shares of PBF Energy by 241.9% during the first quarter. VR Advisory Services Ltd now owns 170,945 shares of the oil and gas company’s stock worth $3,263,000 after purchasing an additional 120,945 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of PBF Energy in the second quarter valued at approximately $448,000. 96.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 target price on the stock. in a research report on Monday, September 15th. Bank of America lifted their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. Cowen restated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Morgan Stanley set a $27.00 price target on shares of PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. Finally, TD Cowen increased their price objective on shares of PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, PBF Energy presently has an average rating of “Strong Sell” and an average price target of $27.83.

PBF Energy Company Profile

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.