Insider Selling: PBF Energy (NYSE:PBF) SVP Sells 30,000 Shares of Stock

PBF Energy Inc. (NYSE:PBF) SVP Connor Thomas O sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the transaction, the senior vice president owned 207,984 shares of the company’s stock, valued at $7,071,456. This represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PBF Energy Trading Down 0.7%

NYSE:PBF opened at $29.97 on Thursday. PBF Energy Inc. has a 12-month low of $13.61 and a 12-month high of $34.29. The firm has a market capitalization of $3.47 billion, a P/E ratio of -3.49 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The business has a 50 day simple moving average of $26.55 and a 200 day simple moving average of $22.39.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The business had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the firm posted ($0.54) EPS. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. Equities research analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.7%. PBF Energy’s payout ratio is currently -12.81%.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in PBF Energy by 25.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 522 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in PBF Energy by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,220 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 527 shares in the last quarter. Bank of Montreal Can increased its holdings in PBF Energy by 5.7% during the 2nd quarter. Bank of Montreal Can now owns 11,734 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 629 shares in the last quarter. Signaturefd LLC increased its holdings in PBF Energy by 8.1% during the 2nd quarter. Signaturefd LLC now owns 8,872 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 664 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its holdings in PBF Energy by 2.8% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 29,589 shares of the oil and gas company’s stock valued at $565,000 after purchasing an additional 795 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PBF shares. Scotiabank restated a “sector perform” rating and set a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Bank of America boosted their price target on PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 3rd. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a research report on Monday, September 15th. Tudor Pickering lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company boosted their price target on PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, PBF Energy has a consensus rating of “Reduce” and an average target price of $26.38.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.