Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $23,221,968.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 469,700 shares of the company’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $49.44, for a total value of $23,221,968.00. Following the transaction, the insider directly owned 20,975,698 shares in the company, valued at approximately $1,037,038,509.12. This represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, March 24th, Control Empresarial De Capital sold 687,500 shares of PBF Energy stock. The shares were sold at an average price of $49.49, for a total value of $34,024,375.00.
• On Monday, March 23rd, Control Empresarial De Capital sold 472,000 shares of PBF Energy stock. The stock was sold at an average price of $47.02, for a total value of $22,193,440.00.
• On Friday, March 20th, Control Empresarial De Capital sold 340,000 shares of PBF Energy stock. The shares were sold at an average price of $48.84, for a total value of $16,605,600.00.
• On Thursday, March 19th, Control Empresarial De Capital sold 52,000 shares of PBF Energy stock. The shares were sold at an average price of $50.18, for a total value of $2,609,360.00.
• On Wednesday, March 18th, Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock. The stock was sold at an average price of $46.21, for a total value of $50,831,000.00.
• On Tuesday, March 17th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The stock was sold at an average price of $44.43, for a total value of $26,658,000.00.
• On Monday, March 16th, Control Empresarial De Capital sold 49,200 shares of PBF Energy stock. The stock was sold at an average price of $44.29, for a total value of $2,179,068.00.
• On Friday, March 13th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The shares were sold at an average price of $43.30, for a total transaction of $16,454,000.00.
• On Thursday, March 12th, Control Empresarial De Capital sold 265,000 shares of PBF Energy stock. The shares were sold at an average price of $43.55, for a total transaction of $11,540,750.00.
• On Wednesday, March 11th, Control Empresarial De Capital sold 838,000 shares of PBF Energy stock. The stock was sold at an average price of $41.91, for a total transaction of $35,120,580.00.

PBF Energy Trading Down 2.0%

PBF opened at $50.20 on Tuesday. 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 $5.87 billion, a price-to-earnings ratio of -34.15, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41. The firm has a 50 day simple moving average of $38.68 and a 200 day simple moving average of $34.07. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $52.18.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm earned ($2.82) earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PBF. Mizuho upped their price objective on PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Zacks Research upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Piper Sandler boosted their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, The Goldman Sachs Group increased their price target on shares of PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, PBF Energy presently has an average rating of “Reduce” and a consensus price target of $31.69.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Merit Financial Group LLC raised its holdings in shares of PBF Energy by 3.0% during the third quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 276 shares during the period. Verdence Capital Advisors LLC increased its holdings in PBF Energy by 2.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 348 shares in the last quarter. Arizona State Retirement System increased its holdings in PBF Energy by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after purchasing an additional 353 shares in the last quarter. Next Level Private LLC raised its stake in shares of PBF Energy by 0.6% in the 4th 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 shares during the period. 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.