PBF Energy (NYSE:PBF) CEO Matthew Lucey Sells 225,473 Shares of Stock

PBF Energy Inc. (NYSE:PBF) CEO Matthew Lucey sold 225,473 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company’s stock, valued at $35,655,850.32. This trade represents a 31.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PBF Energy Stock Performance

PBF stock opened at $65.81 on Wednesday. The stock has a market capitalization of $7.79 billion, a PE ratio of 5.82, a price-to-earnings-growth ratio of 0.10 and a beta of 0.10. PBF Energy Inc. has a 12-month low of $21.46 and a 12-month high of $74.74. 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 stock’s 50 day simple moving average is $50.30 and its 200 day simple moving average is $43.46.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company’s revenue was up 56.2% compared to the same quarter last year. During the same period last year, the business posted ($1.03) EPS. As a group, research analysts forecast that PBF Energy Inc. will post 12.56 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.7%. PBF Energy’s dividend payout ratio (DPR) is 9.73%.

Key PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF Energy’s recent quarterly results were significantly stronger than expected, with adjusted earnings of $6.22 per share versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year. The earnings beat has contributed to upward estimate revisions and bullish momentum. Why PBF Energy Might be Well Poised for a Surge
• Positive Sentiment: Zacks identified PBF as a stock with strong relative price strength, positive earnings revisions and solid fundamentals. Another report said growth investors should not overlook the refiner because of above-average financial growth. 5 Stocks With Relative Price Strength Investors Should Buy
• Positive Sentiment: An analyst price target was reportedly raised to $74, reinforcing the near-term bullish case. PBF also declared its regular $0.275-per-share quarterly dividend, equal to $1.10 annually. PBF Energy Price Target Raised to $74.00
• Neutral Sentiment: Despite the recent rally, analyst sentiment remains mixed: the consensus rating is “Hold,” with a consensus price target of $46.31, well below recent trading levels. Institutional investors still own approximately 96.3% of the shares.
• Negative Sentiment: Several insiders sold significant positions after the rally. CEO Matthew C. Lucey sold 225,473 shares for approximately $16.2 million, director Thomas J. Nimbley sold 468,139 shares for about $32.6 million, and Control Empresarial De Capital sold 490,000 shares worth roughly $34.9 million. Although the latter retained nearly 15 million shares, the cluster of sales may weigh on investor sentiment. PBF Energy Insider Selling

Analysts Set New Price Targets

PBF has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Evercore began coverage on shares of PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 price objective for the company. Freedom Capital downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Finally, Scotiabank raised their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, PBF Energy has an average rating of “Reduce” and an average target price of $50.15.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the last quarter. State Street Corp lifted its stake in shares of PBF Energy by 1.3% in the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after purchasing an additional 60,294 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after purchasing an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the last quarter. 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.