Insider Selling: PBF Energy (NYSE:PBF) SVP Sells $3,149,950.00 in Stock

PBF Energy Inc. (NYSE:PBF) SVP Trecia Canty sold 62,999 shares of PBF Energy stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $50.00, for a total transaction of $3,149,950.00. Following the completion of the transaction, the senior vice president owned 191,779 shares of the company’s stock, valued at $9,588,950. The trade was a 24.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PBF Energy Stock Performance

NYSE PBF opened at $50.20 on Tuesday. The company’s 50 day moving average is $38.68 and its 200-day moving average is $34.07. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $52.18. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The firm has a market cap of $5.87 billion, a P/E ratio of -34.15, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41.

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

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.2%. PBF Energy’s dividend payout ratio is currently -74.83%.

Analysts Set New Price Targets

PBF has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating and set a $34.00 price objective on shares of PBF Energy in a report on Monday, January 5th. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. The Goldman Sachs Group lifted their target price on PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, Piper Sandler upped their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $31.69.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Smartleaf Asset Management LLC lifted its position in PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 589 shares during the last quarter. Torren Management LLC purchased a new position in PBF Energy in the 4th quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new position in shares of PBF Energy in the 4th quarter worth $31,000. Deseret Mutual Benefit Administrators increased its holdings in shares of PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 912 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other 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.