Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $26,425,200.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 570,000 shares of PBF Energy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the sale, the insider directly owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 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 Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The stock was sold at an average price of $42.01, for a total transaction of $8,635,995.70.
• 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 transaction 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 transaction 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 stock was 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 Down 0.1%

Shares of PBF stock opened at $47.78 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a 1 year low of $21.24 and a 1 year high of $52.18. The firm’s fifty day moving average price is $41.73 and its two-hundred day moving average price is $38.33. The firm has a market capitalization of $5.65 billion, a P/E ratio of 12.88, a PEG ratio of 0.14 and a beta of 0.11.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS 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 analyst estimates 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 quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.53) earnings per share. On average, equities analysts predict that PBF Energy Inc. will post 8.55 EPS for the current fiscal year.

PBF Energy Dividend Announcement

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

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in 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 worth $171,595,000 after buying an additional 3,550,820 shares during the last quarter. State Street Corp lifted its position in shares of PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after buying an additional 60,294 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after buying an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after buying an additional 1,137,533 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of 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 acquiring an additional 1,651,516 shares during the period. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PBF shares. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. Mizuho upped their price objective on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price objective on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, June 12th. Citigroup raised their target price 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, TD Cowen upgraded shares of 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 report on Monday. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $36.69.

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.