PBF Energy (NYSE:PBF) CEO Sells 142,364 Shares

PBF Energy Inc. (NYSE:PBF) CEO Matthew Lucey sold 142,364 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $73.50, for a total value of $10,463,754.00. Following the sale, the chief executive officer owned 495,771 shares of the company’s stock, valued at approximately $36,439,168.50. This trade represents a 22.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PBF Energy Stock Up 4.4%

Shares of PBF traded up $3.19 during trading on Monday, reaching $75.04. The company’s stock had a trading volume of 2,944,438 shares, compared to its average volume of 3,371,942. The company has a fifty day moving average of $54.37 and a two-hundred day moving average of $45.46. PBF Energy Inc. has a twelve month low of $22.13 and a twelve month high of $75.68. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 6.64, a P/E/G ratio of 0.08 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The company had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the business posted ($1.03) EPS. The business’s revenue was up 56.2% on a year-over-year basis. On average, sell-side analysts predict that PBF Energy Inc. will post 15.74 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.5%. PBF Energy’s dividend payout ratio is currently 9.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. 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 upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Scotiabank boosted their price objective on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Citigroup upped their price objective on PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, PBF Energy presently has an average rating of “Reduce” and an average price target of $50.15.

Institutional Trading of PBF Energy

Several institutional investors have recently added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in shares of PBF Energy during the fourth quarter worth $30,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at about $31,000. Leonteq Securities AG acquired a new position in shares of PBF Energy in the 1st quarter valued at about $33,000. Smartleaf Asset Management LLC grew its position in shares of PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy during the 4th quarter valued at about $57,000. Institutional investors own 96.29% of the company’s stock.

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.