PBF Energy (NYSE:PBF) Stock Price Down 8.7% on Insider Selling

Shares of PBF Energy Inc. (NYSE:PBF) dropped 8.7% during trading on Monday following insider selling activity. The stock traded as low as $71.05 and last traded at $71.4950. Approximately 3,633,401 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 3,292,476 shares. The stock had previously closed at $78.30.

Specifically, insider Control Empresarial De Capital sold 315,776 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $77.78, for a total transaction of $24,561,057.28. Following the transaction, the insider owned 13,866,127 shares of the company’s stock, valued at $1,078,507,358.06. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Control Empresarial De Capital sold 3,494 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $77.23, for a total value of $269,841.62. Following the sale, the insider owned 14,181,903 shares in the company, valued at approximately $1,095,268,368.69. This represents a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. UBS Group upped their price target on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Mizuho increased their price target on shares of PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. TD Cowen lifted their price objective on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley boosted their price objective on shares of PBF Energy from $38.00 to $76.00 and gave the stock an “underweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.58.

PBF Energy Price Performance

The company’s 50-day moving average price is $66.93 and its two-hundred day moving average price is $51.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The company has a market capitalization of $8.52 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 0.08 and a beta of 0.09.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. PBF Energy’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.03) EPS. As a group, sell-side analysts expect that PBF Energy Inc. will post 17.89 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, August 14th. PBF Energy’s payout ratio is currently 9.73%.

Hedge Funds Weigh In On PBF Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PBF Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after buying an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PBF Energy by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after buying an additional 12,289 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of PBF Energy by 261.0% in the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 2,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of PBF Energy in the second quarter valued at about $1,143,000. 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 and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.