Insider Selling: PBF Energy (NYSE:PBF) CAO Sells $36,040.72 in Stock

PBF Energy Inc. (NYSE:PBF) CAO Steven John Andriola sold 1,048 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.39, for a total value of $36,040.72. Following the transaction, the chief accounting officer owned 20,974 shares of the company’s stock, valued at $721,295.86. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PBF Energy Trading Up 0.0%

Shares of PBF opened at $36.84 on Friday. The company’s fifty day moving average is $30.82 and its 200 day moving average is $25.08. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $38.58. The stock has a market capitalization of $4.26 billion, a PE ratio of -7.92 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating 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 business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same quarter last year, the business earned ($1.50) earnings per share. PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. Sell-side analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be given a $0.275 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.10 annualized dividend and a yield of 3.0%. PBF Energy’s dividend payout ratio (DPR) is currently -23.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PBF shares. The Goldman Sachs Group upped their price objective on PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Piper Sandler raised their price target on PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a research report on Thursday, September 11th. Scotiabank lifted their price objective on shares of PBF Energy from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Wells Fargo & Company increased their target price on shares of PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus target price of $27.83.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its stake in shares of PBF Energy by 170.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after purchasing an additional 3,612,447 shares during the period. Bank of New York Mellon Corp lifted its holdings in 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 buying an additional 260,464 shares in the last quarter. AQR Capital Management LLC boosted its position in 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 buying an additional 1,454,500 shares during the period. American Century Companies Inc. boosted its position in PBF Energy by 1.7% in the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock valued at $36,231,000 after buying an additional 32,285 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in PBF Energy by 12.2% in 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 acquiring an additional 182,456 shares in the last quarter. Institutional investors 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.