PBF Energy (NYSE:PBF) SVP Trecia Canty Sells 50,000 Shares

PBF Energy Inc. (NYSE:PBF) SVP Trecia Canty sold 50,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $36.44, for a total value of $1,822,000.00. Following the transaction, the senior vice president directly owned 200,744 shares in the company, valued at $7,315,111.36. This trade represents a 19.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

PBF Energy Price Performance

Shares of PBF stock opened at $36.84 on Friday. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -7.92 and a beta of 0.79. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $38.58. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $30.82 and a 200 day moving average price of $25.08.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. During the same period in the prior year, the company posted ($1.50) EPS. The company’s revenue was down 8.7% compared to the same quarter last year. Research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.0%. PBF Energy’s dividend payout ratio (DPR) is presently -23.66%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PBF shares. TD Cowen upped their target price on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Mizuho upped their price objective on PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, September 15th. Tudor Pickering lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Wells Fargo & Company boosted their target price 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. Finally, Bank of America upped their price target on PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, PBF Energy has an average rating of “Strong Sell” and a consensus price target of $27.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of PBF Energy by 170.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock worth $109,364,000 after acquiring an additional 3,612,447 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after purchasing an additional 260,464 shares in the last quarter. AQR Capital Management LLC grew its position in shares of PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after purchasing an additional 1,454,500 shares during the period. American Century Companies Inc. increased its stake in PBF Energy by 1.7% during the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock worth $36,231,000 after purchasing an additional 32,285 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PBF Energy by 12.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock worth $31,981,000 after buying an additional 182,456 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.