Insider Selling: PBF Energy (NYSE:PBF) Insider Sells 200,000 Shares

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 200,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $49.14, for a total value of $9,828,000.00. Following the transaction, the insider directly owned 16,462,128 shares in the company, valued at $808,948,969.92. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 1st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $46.94, for a total value of $9,388,000.00.
• On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The stock was 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 shares were sold at an average price of $46.36, for a total transaction 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 transaction of $8,558,000.00.
• On Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The shares were 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 shares were 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 shares were sold at an average price of $43.56, for a total value 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 value 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 value of $10,100,200.00.

PBF Energy Trading Up 9.1%

Shares of PBF Energy stock traded up $4.43 during trading on Wednesday, reaching $52.89. 4,282,366 shares of the company were exchanged, compared to its average volume of 3,396,581. The business has a 50-day moving average price of $42.05 and a 200-day moving average price of $38.70. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.15 and a beta of 0.11. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. PBF Energy Inc. has a twelve month low of $21.24 and a twelve month high of $53.18.

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). The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted ($3.53) EPS. Sell-side analysts anticipate that PBF Energy Inc. will post 8.55 EPS 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 issued a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. PBF Energy’s payout ratio is currently 29.65%.

Hedge Funds Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings 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. Invesco Ltd. grew its position in shares of 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 acquiring an additional 1,651,516 shares during the period. AQR Capital Management LLC increased its stake in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after purchasing an additional 1,454,500 shares during the last quarter. Norges Bank acquired a new position in shares of PBF Energy during the 4th quarter worth about $34,243,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after purchasing an additional 1,159,628 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PBF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Morgan Stanley raised their price objective on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. Wall Street Zen raised PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup increased their price target on PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, TD Cowen upgraded PBF Energy from a “sell” rating to a “hold” rating and lifted their price objective for the company from $36.00 to $39.00 in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus 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.