Insider Selling: PBF Energy (NYSE:PBF) CAO Sells 2,522 Shares of Stock

PBF Energy Inc. (NYSE:PBF) CAO Steven John Andriola sold 2,522 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $76.69, for a total value of $193,412.18. Following the transaction, the chief accounting officer directly owned 16,659 shares of the company’s stock, valued at $1,277,578.71. The trade was a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

PBF Energy Trading Up 3.6%

Shares of PBF Energy stock traded up $2.68 during trading hours on Tuesday, hitting $77.76. The company’s stock had a trading volume of 2,496,222 shares, compared to its average volume of 3,328,279. PBF Energy Inc. has a 1-year low of $25.62 and a 1-year high of $92.46. The business has a fifty day moving average of $77.40 and a 200 day moving average of $53.71. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $9.22 billion, a PE ratio of 3.47, a P/E/G ratio of 0.08 and a beta of 0.18.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the firm posted ($0.52) EPS. The business’s revenue for the quarter was up 58.6% compared to the same quarter last year. As a group, equities analysts forecast that PBF Energy Inc. will post 24.77 EPS for the current year.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Thursday, November 12th will be paid a $0.3250 dividend. This is an increase from PBF Energy’s previous quarterly dividend of $0.2750. This represents a $1.30 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 12th. PBF Energy’s payout ratio is presently 4.91%.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of PBF Energy by 7.7% in the third quarter. Parallel Advisors LLC now owns 3,284 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 234 shares during the last quarter. Alps Advisors Inc. purchased a new position in PBF Energy in the third quarter worth approximately $634,000. Ashton Thomas Private Wealth LLC purchased a new position in PBF Energy in the third quarter worth approximately $270,000. CenterBook Partners LP acquired a new stake in PBF Energy during the third quarter worth $405,000. Finally, Kestra Advisory Services LLC acquired a new stake in PBF Energy during the third quarter worth $366,000. Institutional investors own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PBF. Weiss Ratings raised shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Morgan Stanley upped their price objective on PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday, September 14th. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Citigroup raised their price objective on PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $70.50.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.