Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $34,917,400.00 in Stock

PBF Energy Inc. (NYSE:PBFGet Free Report) insider Control Empresarial De Capital sold 490,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the transaction, the insider directly owned 14,992,128 shares in the company, valued at approximately $1,068,339,041.28. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Control Empresarial De Capital also recently made the following trade(s):

  • On Monday, July 20th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $63.96, for a total value of $14,071,200.00.
  • On Friday, July 10th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $54.52, for a total value of $5,452,000.00.
  • On Thursday, July 9th, Control Empresarial De Capital sold 270,000 shares of PBF Energy stock. The shares were sold at an average price of $53.18, for a total value of $14,358,600.00.
  • On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The shares were sold at an average price of $52.29, for a total value of $19,870,200.00.
  • On Monday, July 6th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $49.14, for a total value of $9,828,000.00.
  • On Wednesday, July 1st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $46.94, for a total value of $9,388,000.00.
  • On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The stock was sold at an average price of $46.65, for a total value of $13,062,000.00.
  • On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00.
  • On Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $42.79, for a total value of $8,558,000.00.
  • On Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The stock was sold at an average price of $42.01, for a total transaction of $8,635,995.70.

PBF Energy Stock Performance

NYSE:PBF traded down $4.54 during midday trading on Monday, hitting $67.74. The company’s stock had a trading volume of 4,895,920 shares, compared to its average volume of 3,384,220. PBF Energy Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $74.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The firm has a market cap of $8.01 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.12 and a beta of 0.10. The firm’s 50 day moving average is $49.20 and its 200-day moving average is $42.98.

PBF Energy (NYSE:PBFGet Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The business’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.03) EPS. Equities analysts anticipate that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy’s dividend payout ratio (DPR) is 9.73%.

Institutional Trading of PBF Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its position in shares of PBF Energy by 19.3% in the second quarter. Wedge Capital Management L L P NC now owns 43,848 shares of the oil and gas company’s stock worth $1,996,000 after acquiring an additional 7,107 shares during the period. Parallel Advisors LLC boosted its stake in shares of PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 242 shares in the last quarter. Bull Harbor Capital LLC acquired a new stake in shares of PBF Energy during the 1st quarter valued at about $212,000. Amundi acquired a new stake in shares of PBF Energy during the 1st quarter valued at about $1,574,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of PBF Energy by 24.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,728 shares of the oil and gas company’s stock valued at $225,000 after acquiring an additional 931 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PBF has been the topic of several analyst reports. Wall Street Zen raised PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Citigroup boosted their price objective on PBF Energy from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Friday. Zacks Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Freedom Capital raised PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group lifted their price target on PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.31.

Read Our Latest Stock Analysis on PBF Energy

About PBF Energy

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for PBF Energy (NYSE:PBF)

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