Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $9,388,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.94, for a total value of $9,388,000.00. Following the sale, the insider directly owned 16,662,128 shares in the company, valued at approximately $782,120,288.32. The trade was a 1.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, July 6th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $49.14, for a total transaction of $9,828,000.00.
• On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The stock was sold at an average price of $46.65, for a total transaction of $13,062,000.00.
• On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00.
• On Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $42.79, for a total transaction of $8,558,000.00.
• On Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The stock was sold at an average price of $42.01, for a total transaction of $8,635,995.70.
• On Friday, June 5th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $43.17, for a total value of $4,317,000.00.
• On Wednesday, June 3rd, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $43.58, for a total value of $9,587,600.00.
• 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 stock was 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 stock was sold at an average price of $45.91, for a total value of $10,100,200.00.

PBF Energy Stock Up 9.1%

Shares of PBF stock opened at $52.89 on Thursday. The stock’s fifty day moving average price is $42.29 and its 200 day moving average price is $38.89. PBF Energy Inc. has a 1-year low of $21.24 and a 1-year high of $53.18. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.14 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted ($3.53) earnings per share. On average, research analysts expect that PBF Energy Inc. will post 8.55 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. PBF Energy’s dividend payout ratio (DPR) is 29.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. Torren Management LLC acquired a new stake in PBF Energy during the 4th quarter worth about $30,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at about $31,000. Leonteq Securities AG purchased a new stake in shares of PBF Energy in the first quarter worth about $33,000. Smartleaf Asset Management LLC grew its holdings in PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 579 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in PBF Energy during the fourth quarter worth about $57,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on PBF. Mizuho lifted their price objective on shares of PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Morgan Stanley raised their target price on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. Zacks Research lowered PBF Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Wall Street Zen upgraded PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup lifted their target price on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $36.69.

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.