PBF Energy (NYSE:PBF) Insider Sells $3,575,380.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 106,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $33.73, for a total value of $3,575,380.00. Following the sale, the insider owned 30,667,498 shares in the company, valued at approximately $1,034,414,707.54. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, January 14th, Control Empresarial De Capital sold 260,000 shares of PBF Energy stock. The stock was sold at an average price of $33.17, for a total value of $8,624,200.00.
• On Friday, January 9th, Control Empresarial De Capital sold 50,000 shares of PBF Energy stock. The shares were sold at an average price of $32.31, for a total transaction of $1,615,500.00.

PBF Energy Stock Down 3.7%

Shares of PBF traded down $1.20 during mid-day trading on Thursday, reaching $31.22. 2,085,581 shares of the stock traded hands, compared to its average volume of 4,843,698. The stock has a fifty day simple moving average of $32.03 and a 200 day simple moving average of $29.09. 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 market cap of $3.62 billion, a price-to-earnings ratio of -6.71, a P/E/G ratio of 1.19 and a beta of 0.47.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same period last year, the business earned ($1.50) EPS. The business’s revenue was down 8.7% on a year-over-year basis. Sell-side analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. PBF Energy’s payout ratio is presently -23.66%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group upped their target price on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $31.00 to $38.00 in a research report on Friday, December 12th. Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Monday, December 8th. Scotiabank raised their price objective on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a report on Monday, January 5th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $30.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC grew its stake in PBF Energy by 2.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 37,400 shares of the oil and gas company’s stock worth $1,014,000 after buying an additional 720 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of PBF Energy by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 40,306 shares of the oil and gas company’s stock worth $1,098,000 after buying an additional 511 shares during the period. Next Level Private LLC grew its holdings in PBF Energy by 0.6% in the 4th quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after buying an additional 378 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of PBF Energy in the fourth quarter worth $842,000. Finally, CIBC Bancorp USA Inc. bought a new position in PBF Energy in the 3rd quarter valued at about $270,000. Institutional investors and hedge funds 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.