Insider Selling: PBF Energy (NYSE:PBF) SVP Sells 50,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 50,000 shares of PBF Energy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $44.80, for a total transaction of $2,240,000.00. Following the completion of the sale, the senior vice president directly owned 183,426 shares of the company’s stock, valued at approximately $8,217,484.80. The trade was a 21.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

PBF Energy Stock Down 5.3%

NYSE:PBF traded down $2.44 during trading hours on Friday, reaching $43.22. The company’s stock had a trading volume of 4,534,697 shares, compared to its average volume of 3,266,505. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -29.40, a price-to-earnings-growth ratio of 6.12 and a beta of 0.41. PBF Energy Inc. has a one year low of $13.61 and a one year high of $47.18. The business’s 50-day moving average is $33.46 and its 200-day moving average is $31.83.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.64. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The business’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company earned ($2.82) earnings per share. Equities research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s payout ratio is -74.83%.

Wall Street Analyst Weigh In

PBF has been the topic of several analyst reports. Piper Sandler increased their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Citigroup upped their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wolfe Research lowered shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research note on Monday, December 8th. Mizuho upgraded shares of 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 report on Friday, December 12th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research report on Monday, January 5th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $30.21.

Hedge Funds Weigh In On PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Merit Financial Group LLC lifted its position in PBF Energy by 3.0% in the 3rd quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 276 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of PBF Energy by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 348 shares during the period. Arizona State Retirement System lifted its holdings in shares of PBF Energy by 1.4% in the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock valued at $774,000 after purchasing an additional 353 shares in the last quarter. Next Level Private LLC lifted its holdings in shares of PBF Energy by 0.6% in the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock valued at $1,808,000 after purchasing an additional 378 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PBF Energy by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock worth $863,000 after buying an additional 432 shares during the period. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.