PBF Energy (NYSE:PBF) SVP Sells $4,455,968.00 in Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 63,295 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $70.40, for a total transaction of $4,455,968.00. Following the completion of the sale, the senior vice president directly owned 183,426 shares in the company, valued at approximately $12,913,190.40. This trade represents a 25.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PBF Energy Trading Up 5.8%

Shares of PBF stock traded up $4.08 during trading hours on Thursday, reaching $74.42. The company’s stock had a trading volume of 2,389,783 shares, compared to its average volume of 3,378,214. The stock has a market capitalization of $8.82 billion, a P/E ratio of 6.59, a P/E/G ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a one year low of $22.08 and a one year high of $74.74. The firm’s fifty day simple moving average is $53.15 and its 200 day simple moving average is $44.89. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business’s revenue was up 56.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.03) earnings per share. Equities research analysts expect that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy’s payout ratio is presently 9.73%.

Hedge Funds Weigh In On PBF Energy

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PBF Energy in a research report on Friday, August 7th. TD Cowen increased their price target on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Scotiabank raised their price objective 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. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley upped their target price on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, PBF Energy currently has an average rating of “Reduce” and an average price target of $50.15.

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.