Insider Selling: PBF Energy (NYSE:PBF) CAO Sells $193,412.18 in Stock

PBF Energy Inc. (NYSE:PBF) CAO Steven John Andriola sold 2,522 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $76.69, for a total transaction of $193,412.18. Following the sale, the chief accounting officer directly owned 16,659 shares of the company’s stock, valued at $1,277,578.71. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PBF Energy Stock Down 5.9%

PBF opened at $68.33 on Friday. The company has a market cap of $8.10 billion, a PE ratio of 3.90, a price-to-earnings-growth ratio of 0.07 and a beta of 0.15. PBF Energy Inc. has a twelve month low of $25.62 and a twelve month high of $92.46. The company has a 50-day moving average price of $77.65 and a 200 day moving average price of $54.34. The company has a quick ratio of 0.96, a current ratio of 1.59 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share for the quarter, beating analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company posted ($0.52) EPS. PBF Energy’s quarterly revenue was up 58.6% compared to the same quarter last year. Sell-side analysts expect that PBF Energy Inc. will post 26.78 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.3250 per share. The ex-dividend date of this dividend is Thursday, November 12th. This is an increase from PBF Energy’s previous quarterly dividend of $0.2750. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.9%. PBF Energy’s payout ratio is currently 4.91%.

Wall Street Analyst Weigh In

PBF has been the topic of a number of research analyst reports. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. UBS Group reiterated a “buy” rating and set a $99.00 price target on shares of PBF Energy in a research report on Monday, October 5th. Citigroup increased their price objective on PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Mizuho raised their price objective on PBF Energy from $65.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Piper Sandler raised their price objective on PBF Energy from $94.00 to $97.00 and gave the company a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $70.50.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. King Luther Capital Management Corp increased its position in PBF Energy by 13.3% during the third quarter. King Luther Capital Management Corp now owns 41,765 shares of the oil and gas company’s stock worth $3,214,000 after purchasing an additional 4,899 shares during the last quarter. New Mexico Educational Retirement Board raised its stake in PBF Energy by 21.8% during the third quarter. New Mexico Educational Retirement Board now owns 20,700 shares of the oil and gas company’s stock worth $1,593,000 after purchasing an additional 3,700 shares during the period. Ritholtz Wealth Management acquired a new position in PBF Energy in the 3rd quarter valued at about $213,000. Philadelphia Trust Co. acquired a new position in PBF Energy in the 3rd quarter valued at about $253,000. Finally, Lido Advisors LLC boosted its holdings in PBF Energy by 13.2% in the 3rd quarter. Lido Advisors LLC now owns 6,609 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 773 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.