Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $8,635,995.70 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 205,570 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $42.01, for a total transaction of $8,635,995.70. Following the completion of the sale, the insider directly owned 17,912,128 shares in the company, valued at approximately $752,488,497.28. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 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 shares were sold at an average price of $45.91, for a total value of $10,100,200.00.
• On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The stock was sold at an average price of $44.41, for a total value of $133,230.00.
• On Wednesday, April 29th, Control Empresarial De Capital sold 362,000 shares of PBF Energy stock. The shares were sold at an average price of $43.50, for a total transaction of $15,747,000.00.
• On Tuesday, April 7th, Control Empresarial De Capital sold 70,000 shares of PBF Energy stock. The stock was sold at an average price of $47.10, for a total transaction of $3,297,000.00.
• On Monday, April 6th, Control Empresarial De Capital sold 130,000 shares of PBF Energy stock. The stock was sold at an average price of $46.18, for a total transaction of $6,003,400.00.

PBF Energy Trading Up 7.9%

Shares of NYSE:PBF traded up $3.42 during trading on Monday, reaching $46.53. The stock had a trading volume of 4,284,045 shares, compared to its average volume of 3,424,251. PBF Energy Inc. has a fifty-two week low of $21.24 and a fifty-two week high of $52.18. The business has a fifty day moving average price of $40.99 and a 200-day moving average price of $37.82. The stock has a market cap of $5.50 billion, a P/E ratio of 12.54, a PEG ratio of 0.14 and a beta of 0.12. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.53) EPS. As a group, analysts anticipate that PBF Energy Inc. will post 7.69 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio is presently 29.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a research note on Friday, April 10th. They set a “neutral” rating and a $49.00 price objective for the company. Scotiabank increased their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Zacks Research lowered PBF Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Wall Street Zen lowered PBF Energy from a “buy” rating to a “hold” rating in a research note on Sunday. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, PBF Energy currently has a consensus rating of “Reduce” and an average price target of $36.69.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock valued at $171,595,000 after purchasing an additional 3,550,820 shares during the period. Invesco Ltd. increased its stake in PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the period. AQR Capital Management LLC lifted its holdings in PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after buying an additional 1,454,500 shares in the last quarter. Norges Bank acquired a new position in PBF Energy in the 4th quarter worth $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after buying an additional 1,159,628 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.