Insider Selling: PBF Energy (NYSE:PBF) CAO Sells 1,048 Shares of Stock

PBF Energy Inc. (NYSE:PBF) CAO Steven John Andriola sold 1,048 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.39, for a total value of $36,040.72. Following the completion of the sale, the chief accounting officer directly owned 20,974 shares in the company, valued at $721,295.86. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PBF Energy Stock Up 0.1%

PBF Energy stock traded up $0.04 during trading hours on Wednesday, hitting $35.35. 2,455,115 shares of the stock traded hands, compared to its average volume of 3,213,867. The firm’s 50-day moving average price is $30.25 and its two-hundred day moving average price is $24.77. The company has a current ratio of 1.38, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.09 billion, a PE ratio of -7.60 and a beta of 0.79. PBF Energy Inc. has a one year low of $13.61 and a one year high of $36.67.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same period in the previous year, the firm posted ($1.50) EPS. The business’s revenue was down 8.7% on a year-over-year basis. On average, research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.1%. PBF Energy’s payout ratio is currently -23.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new position in shares of PBF Energy during the first quarter worth $242,000. Mutual Advisors LLC grew its position in shares of PBF Energy by 31.9% in the first quarter. Mutual Advisors LLC now owns 31,293 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 7,564 shares during the period. Principal Financial Group Inc. boosted its position in PBF Energy by 1.1% during the first quarter. Principal Financial Group Inc. now owns 227,352 shares of the oil and gas company’s stock worth $4,340,000 after acquiring an additional 2,514 shares during the last quarter. Bank of New York Mellon Corp boosted its position in PBF Energy by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after acquiring an additional 260,464 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in PBF Energy during the first quarter worth about $191,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PBF shares. The Goldman Sachs Group boosted their target price on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Mizuho upped their target price on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, September 15th. Piper Sandler boosted their price target on shares of PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, September 11th. TD Cowen upped their target price on shares of PBF Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Finally, Tudor Pickering cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus target price of $27.83.

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.