Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $7,702,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $77.02, for a total value of $7,702,000.00. Following the transaction, the insider directly owned 14,185,397 shares of the company’s stock, valued at $1,092,559,276.94. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, August 17th, Control Empresarial De Capital sold 120,000 shares of PBF Energy stock. The stock was sold at an average price of $74.79, for a total value of $8,974,800.00.
• On Friday, August 14th, Control Empresarial De Capital sold 6,356 shares of PBF Energy stock. The shares were sold at an average price of $74.28, for a total value of $472,123.68.
• On Thursday, August 13th, Control Empresarial De Capital sold 210,000 shares of PBF Energy stock. The shares were sold at an average price of $72.18, for a total value of $15,157,800.00.
• On Wednesday, August 12th, Control Empresarial De Capital sold 150,000 shares of PBF Energy stock. The stock was sold at an average price of $70.13, for a total value of $10,519,500.00.
• On Tuesday, August 11th, Control Empresarial De Capital sold 220,375 shares of PBF Energy stock. The shares were sold at an average price of $68.68, for a total transaction of $15,135,355.00.
• On Thursday, July 30th, Control Empresarial De Capital sold 490,000 shares of PBF Energy stock. The shares were sold at an average price of $71.26, for a total transaction of $34,917,400.00.
• On Monday, July 20th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $63.96, for a total transaction of $14,071,200.00.
• On Friday, July 10th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The shares were sold at an average price of $54.52, for a total transaction of $5,452,000.00.
• 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 transaction of $14,358,600.00.
• On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The stock was sold at an average price of $52.29, for a total transaction of $19,870,200.00.

PBF Energy Stock Down 1.0%

PBF Energy stock traded down $0.76 during trading hours on Friday, hitting $74.57. 1,856,144 shares of the stock traded hands, compared to its average volume of 3,302,446. The firm’s 50-day moving average price is $63.36 and its two-hundred day moving average price is $49.22. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.84 billion, a PE ratio of 6.60, a PEG ratio of 0.09 and a beta of 0.09. PBF Energy Inc. has a one year low of $25.62 and a one year high of $77.94.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business’s revenue was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.03) EPS. On average, research analysts forecast that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.5%. PBF Energy’s dividend payout ratio (DPR) is currently 9.73%.

Wall Street Analyst Weigh In

PBF has been the subject of several research reports. Zacks Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. TD Cowen raised their target price on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Morgan Stanley boosted their price target on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, June 12th. The Goldman Sachs Group upped their price target on PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Finally, Mizuho lifted their price objective on PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PBF. Royal Bank of Canada raised its holdings in PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after acquiring an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after purchasing an additional 2,609 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after purchasing an additional 12,289 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of PBF Energy by 261.0% in the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PBF Energy in the second quarter worth $1,143,000. 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.