PBF Energy (NYSE:PBF) Shares Down 7.7% on Insider Selling

PBF Energy Inc. (NYSE:PBF)’s share price was down 7.7% during mid-day trading on Monday following insider selling activity. The stock traded as low as $39.63 and last traded at $39.90. Approximately 2,803,516 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 3,585,592 shares. The stock had previously closed at $43.25.

Specifically, SVP Paul T. Davis sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $44.80, for a total value of $2,240,000.00. Following the transaction, the senior vice president directly owned 183,426 shares in the company, valued at $8,217,484.80. The trade was a 21.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Control Empresarial De Capital sold 205,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $46.57, for a total transaction of $9,546,850.00. Following the sale, the insider directly owned 26,264,098 shares in the company, valued at $1,223,119,043.86. This represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, insider Control Empresarial De Capital sold 903,100 shares of PBF Energy stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.62, for a total value of $38,490,122.00. Following the completion of the transaction, the insider owned 26,469,098 shares in the company, valued at approximately $1,128,112,956.76. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

PBF has been the topic of a number of research analyst reports. Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and raised their price target for the company from $31.00 to $38.00 in a report on Friday, December 12th. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Wolfe Research lowered PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price for the company. in a research note on Monday, December 8th. Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Citigroup upped their price target on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $30.21.

PBF Energy Stock Down 11.9%

The firm’s 50 day moving average price is $33.69 and its 200-day moving average price is $32.05. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.45 billion, a P/E ratio of -25.91, a price-to-earnings-growth ratio of 5.80 and a beta of 0.41.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted ($2.82) earnings per share. PBF Energy’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. PBF Energy’s payout ratio is presently -74.83%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in shares of 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 purchasing an additional 589 shares during the period. Torren Management LLC acquired a new position in PBF Energy in the fourth quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new position in PBF Energy during the fourth quarter worth about $31,000. Deseret Mutual Benefit Administrators boosted its holdings in PBF Energy by 62.3% during the third 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 during the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of PBF Energy by 235.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock worth $39,000 after buying an additional 912 shares during the period. 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 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.