Paul Davis Sells 50,000 Shares of PBF Energy (NYSE:PBF) Stock

PBF Energy Inc. (NYSE:PBF) SVP Paul Davis sold 50,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the senior vice president directly owned 192,391 shares in the company, valued at approximately $7,310,858. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PBF Energy Price Performance

Shares of NYSE PBF traded down $1.51 during midday trading on Wednesday, hitting $38.73. The company had a trading volume of 2,043,738 shares, compared to its average volume of 3,214,083. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $41.47. The business has a 50-day simple moving average of $31.30 and a two-hundred day simple moving average of $25.55. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -8.33 and a beta of 0.79.

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

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is presently -23.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PBF shares. Tudor Pickering cut PBF Energy from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Scotiabank lifted their price target on PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Mizuho boosted their price objective on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Cowen restated a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Finally, UBS Group lifted their target price on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average target price of $27.83.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of PBF Energy by 197.7% during the 3rd 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 last quarter. 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. Hantz Financial Services Inc. lifted its stake in shares of 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 buying an additional 912 shares during the period. Quent Capital LLC purchased a new position in shares of PBF Energy during the third quarter valued at approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,248 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.