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 that occurred on Thursday, June 25th. The stock was sold at an average price of $42.01, for a total value of $8,635,995.70. Following the transaction, the insider directly owned 17,912,128 shares of the company’s stock, valued at approximately $752,488,497.28. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The shares were sold at an average price of $46.65, for a total value of $13,062,000.00.
• On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00.
• On Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $42.79, for a total value 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 stock was sold at an average price of $43.56, for a total transaction 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 transaction 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 transaction of $10,100,200.00.
• On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The shares were sold at an average price of $44.41, for a total transaction 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.

PBF Energy Stock Up 5.4%

PBF stock opened at $47.98 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $41.44 and its 200 day moving average price is $38.14. PBF Energy Inc. has a 52 week low of $21.24 and a 52 week high of $52.18. The company has a market cap of $5.68 billion, a P/E ratio of 12.93, a P/E/G ratio of 0.14 and a beta of 0.11.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted ($3.53) earnings per share. On average, research analysts expect that PBF Energy Inc. will post 8.02 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted 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 acquiring an additional 3,550,820 shares during the last quarter. Invesco Ltd. raised its stake in PBF Energy by 147.4% in the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after purchasing an additional 1,651,516 shares during the last quarter. AQR Capital Management LLC raised its stake 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 valued at $45,183,000 after purchasing an additional 1,454,500 shares during the last quarter. Norges Bank purchased a new position in PBF Energy in the 4th quarter valued at about $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after purchasing an additional 1,159,628 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PBF. TD Cowen upgraded PBF Energy from a “sell” rating to a “hold” rating and boosted their target price for the stock from $36.00 to $39.00 in a research report on Monday. Zacks Research cut PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. The Goldman Sachs Group started coverage on PBF Energy in a research note on Friday, April 10th. They set a “neutral” rating and a $49.00 price target for the company. Citigroup increased their price objective on shares of PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Scotiabank raised their target price on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $36.69.

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.