Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $9,587,600.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 220,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $43.58, for a total value of $9,587,600.00. Following the completion of the sale, the insider directly owned 18,217,698 shares in the company, valued at $793,927,278.84. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, June 2nd, Control Empresarial De Capital sold 31,000 shares of PBF Energy stock. The shares were sold at an average price of $43.56, for a total value of $1,350,360.00.
• On Monday, May 4th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $44.87, for a total value of $8,974,000.00.
• On Tuesday, May 5th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $45.91, for a total value of $10,100,200.00.
• On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The shares were sold at an average price of $44.41, for a total value of $133,230.00.
• On Wednesday, April 29th, Control Empresarial De Capital sold 362,000 shares of PBF Energy stock. The shares were sold at an average price of $43.50, for a total value of $15,747,000.00.
• On Tuesday, April 7th, Control Empresarial De Capital sold 70,000 shares of PBF Energy stock. The shares were sold at an average price of $47.10, for a total value of $3,297,000.00.
• On Monday, April 6th, Control Empresarial De Capital sold 130,000 shares of PBF Energy stock. The shares were sold at an average price of $46.18, for a total value of $6,003,400.00.
• On Friday, March 27th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $50.52, for a total value of $30,312,000.00.
• On Thursday, March 26th, Control Empresarial De Capital sold 637,000 shares of PBF Energy stock. The shares were sold at an average price of $49.96, for a total value of $31,824,520.00.
• On Tuesday, March 31st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $50.74, for a total value of $10,148,000.00.

PBF Energy Price Performance

PBF Energy stock opened at $42.64 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $5.04 billion, a PE ratio of 11.49, a P/E/G ratio of 0.16 and a beta of 0.12. PBF Energy Inc. has a 12 month low of $18.10 and a 12 month high of $52.18. The stock has a 50-day moving average price of $42.34 and a two-hundred day moving average price of $37.22.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. PBF Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.53) earnings per share. Analysts expect that PBF Energy Inc. will post 6.7 EPS for the current year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 annualized dividend and a yield of 2.6%. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Analyst Ratings Changes

Several research firms have commented on PBF. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Piper Sandler increased their target price on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. The Goldman Sachs Group began coverage on PBF Energy in a research report on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price for the company. Scotiabank increased their target price on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley increased their target price on PBF Energy from $27.00 to $34.00 and gave the company an “underweight” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $36.15.

Institutional Investors Weigh In On PBF Energy

Hedge funds have recently added to or reduced their stakes in the business. Leonteq Securities AG bought a new stake in PBF Energy in the first quarter worth approximately $33,000. Smartleaf Asset Management LLC increased its holdings in PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares in the last quarter. Torren Management LLC bought a new stake in PBF Energy in the fourth quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new stake in PBF Energy in the fourth quarter worth approximately $31,000. Finally, Hantz Financial Services Inc. increased its holdings in PBF Energy by 235.7% in the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 912 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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.