PBF Energy (NYSE:PBF) SVP Trecia Canty Sells 62,999 Shares

PBF Energy Inc. (NYSE:PBF) SVP Trecia Canty sold 62,999 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $50.00, for a total value of $3,149,950.00. Following the transaction, the senior vice president directly owned 191,779 shares in the company, valued at $9,588,950. This represents a 24.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

PBF Energy Price Performance

PBF Energy stock opened at $51.19 on Friday. The company has a market cap of $5.99 billion, a P/E ratio of -34.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. PBF Energy Inc. has a one year low of $13.61 and a one year high of $51.80. The business has a fifty day moving average of $38.27 and a two-hundred day moving average of $33.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21.

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. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted ($2.82) EPS. As a group, analysts predict 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 was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, February 25th. PBF Energy’s dividend payout ratio is presently -74.83%.

Analyst Upgrades and Downgrades

PBF has been the subject of a number of research reports. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a research report on Monday, December 8th. The Goldman Sachs Group upped their price target on PBF Energy from $33.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Piper Sandler raised their price objective on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Mizuho lifted their price objective on PBF Energy from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $34.00 target price on shares of PBF Energy in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $31.69.

Institutional Inflows and Outflows

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