PBF Energy (NYSE:PBF) SVP Sells $4,993,762.87 in Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 75,997 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.71, for a total value of $4,993,762.87. Following the transaction, the senior vice president directly owned 183,426 shares in the company, valued at $12,052,922.46. This trade represents a 29.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

PBF Energy Stock Performance

Shares of PBF opened at $61.68 on Friday. The firm has a 50-day moving average price of $51.60 and a 200 day moving average price of $44.02. The firm has a market capitalization of $7.30 billion, a PE ratio of 5.46, a P/E/G ratio of 0.07 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 Inc. has a 52-week low of $21.46 and a 52-week high of $74.74.

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

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 yield of 1.8%. PBF Energy’s payout ratio is presently 9.73%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC increased its holdings in shares of PBF Energy by 19.3% in the second quarter. Wedge Capital Management L L P NC now owns 43,848 shares of the oil and gas company’s stock valued at $1,996,000 after buying an additional 7,107 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of PBF Energy by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 242 shares during the last quarter. Bull Harbor Capital LLC acquired a new position in shares of PBF Energy in the 1st quarter worth $212,000. Amundi acquired a new stake in shares of PBF Energy during the first quarter worth $1,574,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PBF Energy by 24.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 931 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PBF. TD Cowen increased their price target on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Citigroup boosted their price objective on PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Evercore began coverage on PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 price objective for the company. Mizuho raised their target price on PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Scotiabank lifted their target price on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $50.15.

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.