Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $4,599,600.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 120,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $38.33, for a total transaction of $4,599,600.00. Following the sale, the insider directly owned 27,471,198 shares of the company’s stock, valued at approximately $1,052,971,019.34. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, March 5th, Control Empresarial De Capital sold 205,000 shares of PBF Energy stock. The shares were sold at an average price of $46.57, for a total transaction of $9,546,850.00.
• On Wednesday, March 4th, Control Empresarial De Capital sold 903,100 shares of PBF Energy stock. The stock was sold at an average price of $42.62, for a total transaction of $38,490,122.00.
• On Tuesday, March 3rd, Control Empresarial De Capital sold 99,000 shares of PBF Energy stock. The shares were sold at an average price of $40.33, for a total value of $3,992,670.00.
• On Tuesday, February 24th, Control Empresarial De Capital sold 250,000 shares of PBF Energy stock. The stock was sold at an average price of $34.91, for a total value of $8,727,500.00.
• On Thursday, February 12th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The stock was sold at an average price of $36.79, for a total value of $110,370.00.
• On Wednesday, February 11th, Control Empresarial De Capital sold 450,000 shares of PBF Energy stock. The stock was sold at an average price of $35.38, for a total transaction of $15,921,000.00.
• On Tuesday, February 10th, Control Empresarial De Capital sold 1,400 shares of PBF Energy stock. The stock was sold at an average price of $34.50, for a total value of $48,300.00.
• On Monday, February 9th, Control Empresarial De Capital sold 228,500 shares of PBF Energy stock. The stock was sold at an average price of $35.26, for a total value of $8,056,910.00.
• On Friday, February 6th, Control Empresarial De Capital sold 303,200 shares of PBF Energy stock. The stock was sold at an average price of $35.62, for a total value of $10,799,984.00.
• On Thursday, February 5th, Control Empresarial De Capital sold 157,200 shares of PBF Energy stock. The shares were sold at an average price of $34.66, for a total value of $5,448,552.00.

PBF Energy Price Performance

Shares of NYSE PBF opened at $43.22 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $47.18. The business has a 50 day moving average price of $33.46 and a two-hundred day moving average price of $31.83. The firm has a market cap of $5.05 billion, a PE ratio of -29.40, a price-to-earnings-growth ratio of 6.12 and a beta of 0.41.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.17 billion. PBF Energy’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted ($2.82) EPS. Sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PBF shares. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective for the company. in a research report on Monday, December 8th. Piper Sandler increased their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $31.00 to $38.00 in a research note on Friday, December 12th. Finally, Citigroup increased their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $30.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock worth $27,000 after buying an additional 589 shares in the last quarter. Torren Management LLC purchased a new stake in PBF Energy in the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators lifted its position in PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after buying an additional 440 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in PBF Energy during the fourth quarter valued at $31,000. Finally, Hantz Financial Services Inc. raised its position in PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 912 shares in the last quarter. 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.