Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $13,062,000.00 in Stock

by · The Cerbat Gem

PBF Energy Inc. (NYSE:PBFGet Free Report) insider Control Empresarial De Capital sold 280,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $46.65, for a total transaction of $13,062,000.00. Following the completion of the sale, the insider owned 16,862,128 shares of the company’s stock, valued at approximately $786,618,271.20. The trade was a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The shares were sold at an average price of $46.36, for a total transaction 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 transaction 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.
  • On Friday, June 5th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $43.17, for a total transaction of $4,317,000.00.
  • On Wednesday, June 3rd, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $43.58, for a total transaction of $9,587,600.00.
  • On Tuesday, June 2nd, Control Empresarial De Capital sold 31,000 shares of PBF Energy stock. The shares were sold at an average price of $43.56, for a total transaction of $1,350,360.00.
  • On Monday, May 4th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $44.87, for a total transaction of $8,974,000.00.
  • On Tuesday, May 5th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $45.91, for a total transaction of $10,100,200.00.
  • On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The stock was sold at an average price of $44.41, for a total value of $133,230.00.
  • On Wednesday, April 29th, Control Empresarial De Capital sold 362,000 shares of PBF Energy stock. The shares were sold at an average price of $43.50, for a total value of $15,747,000.00.

PBF Energy Stock Performance

PBF stock opened at $47.78 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a market cap of $5.65 billion, a PE ratio of 12.88, a P/E/G ratio of 0.14 and a beta of 0.11. The business has a 50 day moving average of $41.73 and a 200-day moving average of $38.33. PBF Energy Inc. has a 12-month low of $21.24 and a 12-month high of $52.18.

PBF Energy (NYSE:PBFGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter last year, the business posted ($3.53) earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that PBF Energy Inc. will post 8.55 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, May 14th. PBF Energy’s payout ratio is presently 29.65%.

Institutional Trading of PBF Energy

Several hedge funds have recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of PBF Energy during the 1st quarter valued at $33,000. Torren Management LLC bought a new position in shares of PBF Energy during the 4th quarter worth $30,000. Los Angeles Capital Management LLC purchased a new stake in PBF Energy in the 4th quarter worth about $31,000. Smartleaf Asset Management LLC increased its holdings in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in PBF Energy in the 4th quarter valued at about $57,000. 96.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PBF shares. Zacks Research lowered shares of PBF Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Scotiabank lifted their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho lifted their price objective on shares of PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. TD Cowen upgraded shares of PBF Energy from a “sell” rating to a “hold” rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Monday. Finally, The Goldman Sachs Group began coverage on shares of PBF Energy in a research report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price for the company. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $36.69.

Read Our Latest Stock Analysis on PBF

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.

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