Paul Davis Sells 63,295 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 63,295 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $70.40, for a total value 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 represents a 25.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PBF Energy Stock Up 5.8%

PBF stock traded up $4.08 on Thursday, reaching $74.42. 2,389,783 shares of the company traded hands, compared to its average volume of 3,378,214. The firm has a fifty day simple moving average of $53.15 and a 200-day simple moving average of $44.89. The company has a market cap of $8.82 billion, a P/E ratio of 6.59, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67.

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

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.5%. PBF Energy’s payout ratio is 9.73%.

Wall Street Analysts Forecast Growth

PBF has been the subject of several analyst reports. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Freedom Capital downgraded PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Scotiabank lifted their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Evercore started coverage on PBF Energy in a research note on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target for the company. Finally, Mizuho upped their price target on PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $50.15.

Institutional Trading of PBF Energy

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in shares of PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after purchasing an additional 242 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PBF Energy by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 260 shares in the last quarter. Merit Financial Group LLC increased its holdings in PBF Energy by 3.4% during the fourth quarter. Merit Financial Group LLC now owns 9,900 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 325 shares during the period. Janney Montgomery Scott LLC increased its holdings in PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 383 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PBF Energy by 1.5% in 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 in the last quarter. 96.29% of the stock is currently owned by 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.