Joseph Daniel Marino Sells 4,033 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) CFO Joseph Daniel Marino sold 4,033 shares of PBF Energy stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $69.15, for a total value of $278,881.95. Following the transaction, the chief financial officer owned 48,851 shares of the company’s stock, valued at $3,378,046.65. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PBF Energy Stock Performance

Shares of PBF stock traded up $4.08 during trading on Thursday, reaching $74.42. 2,389,783 shares of the company’s stock were exchanged, compared to its average volume of 3,378,214. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.82 billion, a PE ratio of 6.59, a PEG ratio of 0.08 and a beta of 0.10. PBF Energy Inc. has a twelve month low of $22.08 and a twelve month high of $74.74. The firm’s fifty day moving average price is $53.15 and its 200-day moving average price is $44.89.

PBF Energy (NYSE:PBF) last announced its quarterly 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. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the firm posted ($1.03) EPS. The company’s quarterly revenue was up 56.2% on a year-over-year basis. As a group, sell-side analysts anticipate that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Announces Dividend

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

Institutional Investors Weigh In On PBF Energy

A number of institutional investors have recently modified their holdings of PBF. Parallel Advisors LLC boosted its holdings in 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 during the period. PNC Financial Services Group Inc. grew its position in shares of PBF Energy by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 260 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of 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 worth $268,000 after purchasing an additional 325 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of 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 worth $375,000 after purchasing an additional 383 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 valued at $863,000 after buying an additional 432 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PBF. UBS Group lifted their target price on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Morgan Stanley increased their price target on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a report on Friday, August 7th. TD Cowen upped their target price on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Scotiabank upped their target price on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $50.15.

PBF Energy Company Profile

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.