PBF Energy (NYSE:PBF) SVP Sells $1,822,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) SVP Trecia Canty sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $36.44, for a total value of $1,822,000.00. Following the completion of the sale, the senior vice president owned 200,744 shares in the company, valued at approximately $7,315,111.36. This represents a 19.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PBF Energy Stock Performance

NYSE PBF traded up $0.00 on Friday, hitting $36.84. 2,329,644 shares of the company’s stock traded hands, compared to its average volume of 3,212,302. The firm’s 50-day moving average price is $30.63 and its two-hundred day moving average price is $24.93. The firm has a market capitalization of $4.26 billion, a PE ratio of -7.92 and a beta of 0.79. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $38.58.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.17. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The firm’s revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the company posted ($1.50) earnings per share. As a group, analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, November 14th. PBF Energy’s payout ratio is currently -23.66%.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. Smartleaf Asset Management LLC increased its position in shares of PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 589 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares during the period. Hantz Financial Services Inc. increased its position in shares of PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 912 shares during the last quarter. Quent Capital LLC acquired a new position in shares of PBF Energy in the 3rd quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,248 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PBF shares. Morgan Stanley set a $27.00 price target on shares of PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. The Goldman Sachs Group boosted their price target on shares of PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Mizuho upped their price objective on shares of PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Monday, September 15th. UBS Group raised their target price on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and an average price target of $27.83.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.