Insider Buying: PBF Energy Inc. (NYSE:PBF) Insider Acquires $17,894,824.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital bought 403,400 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average cost of $44.36 per share, with a total value of $17,894,824.00. Following the purchase, the insider now directly owns 15,286,098 shares of the company’s stock, valued at approximately $678,091,307.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, June 10th, Control Empresarial De Capital purchased 7,500 shares of PBF Energy stock. The stock was bought at an average price of $45.65 per share, for a total transaction of $342,375.00.
• On Friday, June 7th, Control Empresarial De Capital bought 51,000 shares of PBF Energy stock. The stock was bought at an average cost of $46.19 per share, for a total transaction of $2,355,690.00.
• On Wednesday, June 5th, Control Empresarial De Capital purchased 200,000 shares of PBF Energy stock. The stock was bought at an average cost of $45.37 per share, with a total value of $9,074,000.00.
• On Monday, June 3rd, Control Empresarial De Capital acquired 84,000 shares of PBF Energy stock. The shares were purchased at an average cost of $44.96 per share, for a total transaction of $3,776,640.00.

PBF Energy Stock Down 2.2 %

Shares of PBF stock opened at $43.96 on Monday. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. PBF Energy Inc. has a 12 month low of $38.63 and a 12 month high of $62.88. The stock has a market cap of $5.21 billion, a P/E ratio of 3.04 and a beta of 1.63. The company has a 50 day simple moving average of $51.43 and a two-hundred day simple moving average of $49.39.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. On average, research analysts expect that PBF Energy Inc. will post 7.19 earnings per share for the current year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. PBF Energy’s payout ratio is currently 6.92%.

Analyst Upgrades and Downgrades

PBF has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Piper Sandler cut their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday. Scotiabank boosted their price target on PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their target price on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.18.

Institutional Investors Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. GAMMA Investing LLC boosted its position in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares during the period. Rise Advisors LLC purchased a new stake in PBF Energy in the 1st quarter worth $27,000. Creekmur Asset Management LLC bought a new stake in PBF Energy during the fourth quarter valued at about $29,000. Fortitude Family Office LLC purchased a new position in shares of PBF Energy in the fourth quarter valued at about $44,000. Finally, Fifth Third Bancorp boosted its stake in shares of PBF Energy by 30.4% in the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 222 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Company Profile

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.