PBF Energy (NYSE:PBF) Shares Down 4.6% After Insider Selling

PBF Energy Inc. (NYSE:PBF) was down 4.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $68.21 and last traded at $68.9320. 2,863,857 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 3,369,183 shares. The stock had previously closed at $72.28.

Specifically, insider Control Empresarial De Capital sold 490,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the completion of the transaction, the insider directly owned 14,992,128 shares of the company’s stock, valued at approximately $1,068,339,041.28. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital sold 220,000 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.96, for a total transaction of $14,071,200.00. Following the sale, the insider owned 15,492,128 shares in the company, valued at $990,876,506.88. The trade was a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

PBF has been the subject of several analyst reports. UBS Group boosted their price target on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley raised their price target on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. Finally, The Goldman Sachs Group lifted their price target on PBF Energy from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $50.15.

Key Headlines Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF’s latest quarterly results were significantly better than expected. Earnings per share reached $6.22 versus the $4.15 consensus estimate, while revenue rose 56.2% year over year to $11.68 billion, exceeding expectations of $9.61 billion. Analysts currently expect approximately $12.56 in full-year EPS.
• Positive Sentiment: Zacks highlighted PBF among attractively valued low price-to-sales stocks with solid revenue potential. The company also benefits from strong recent price momentum, positive estimate revisions and a low reported P/E ratio. 5 Attractively Valued Low P/S Stocks With Solid Revenue Potential
• Positive Sentiment: PBF declared its regular quarterly dividend of $0.275 per share, or $1.10 annualized, with an ex-dividend date of August 14 and payment scheduled for August 28. The low payout ratio provides some support for the dividend.
• Neutral Sentiment: Analyst views remain mixed. Some firms have raised price targets, including UBS to $84, but broader consensus ratings range from Hold to Reduce, with consensus targets reported below recent trading levels. Institutional ownership remains high at about 96%.
• Negative Sentiment: Several major holders and executives sold substantial positions. CEO Matthew Lucey sold 225,473 shares for approximately $16.2 million, reducing his holdings by 31.26%; director Thomas Nimbley sold 468,139 shares for about $32.6 million; and Control Empresarial De Capital sold 490,000 shares worth roughly $34.9 million. SVP Paul Davis also sold 75,997 shares for approximately $5.0 million. Although Control Empresarial retained nearly 15 million shares, the concentration of sales may weigh on sentiment. PBF Energy Insider Selling

PBF Energy Trading Down 5.3%

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 business’s fifty day simple moving average is $50.30 and its two-hundred day simple moving average is $43.46. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.10 and a beta of 0.10.

PBF Energy (NYSE:PBF) last issued its 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. The business had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.03) EPS. On average, equities analysts predict that PBF Energy Inc. will post 12.56 EPS for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. PBF Energy’s dividend payout ratio (DPR) is presently 9.73%.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Goldman Sachs Group Inc. boosted its position in shares of PBF Energy by 127.9% in the 4th 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. State Street Corp increased its position in PBF Energy by 1.3% during the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after buying an additional 60,294 shares during the period. Dimensional Fund Advisors LP increased its position in PBF Energy by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after buying an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in 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. lifted its stake in PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after buying an additional 1,651,516 shares during the last quarter. Institutional investors and hedge funds 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.