PBF Energy (NYSE:PBF) Trading Down 4.6% After Insider Selling

Shares of PBF Energy Inc. (NYSE:PBF) were down 4.6% during trading on Monday following insider selling activity. The stock traded as low as $68.21 and last traded at $68.9320. 2,863,857 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 3,369,183 shares. The stock had previously closed at $72.28.

Specifically, 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 transaction, the insider directly owned 14,992,128 shares in the company, valued at $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 is available at this hyperlink. Also, insider Control Empresarial De Capital sold 220,000 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.96, for a total transaction of $14,071,200.00. Following the transaction, the insider directly owned 15,492,128 shares in the company, valued at approximately $990,876,506.88. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group raised their price target on PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho lifted their price target on shares of PBF Energy from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday. TD Cowen upped their price objective on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group increased their price objective on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Freedom Capital lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Reduce” and an average target price of $50.15.

Trending Headlines about PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF’s latest quarterly results were significantly better than expected. Earnings per share reached $6.22 versus the $4.15 consensus estimate, while revenue rose 56.2% year over year to $11.68 billion, exceeding expectations of $9.61 billion. Analysts currently expect approximately $12.56 in full-year EPS.
• Positive Sentiment: Zacks highlighted PBF among attractively valued low price-to-sales stocks with solid revenue potential. The company also benefits from strong recent price momentum, positive estimate revisions and a low reported P/E ratio. 5 Attractively Valued Low P/S Stocks With Solid Revenue Potential
• Positive Sentiment: PBF declared its regular quarterly dividend of $0.275 per share, or $1.10 annualized, with an ex-dividend date of August 14 and payment scheduled for August 28. The low payout ratio provides some support for the dividend.
• Neutral Sentiment: Analyst views remain mixed. Some firms have raised price targets, including UBS to $84, but broader consensus ratings range from Hold to Reduce, with consensus targets reported below recent trading levels. Institutional ownership remains high at about 96%.
• Negative Sentiment: Several major holders and executives sold substantial positions. CEO Matthew Lucey sold 225,473 shares for approximately $16.2 million, reducing his holdings by 31.26%; director Thomas Nimbley sold 468,139 shares for about $32.6 million; and Control Empresarial De Capital sold 490,000 shares worth roughly $34.9 million. SVP Paul Davis also sold 75,997 shares for approximately $5.0 million. Although Control Empresarial retained nearly 15 million shares, the concentration of sales may weigh on sentiment. PBF Energy Insider Selling

PBF Energy Trading Down 5.1%

The firm’s 50 day simple moving average is $50.30 and its two-hundred day simple moving average is $43.46. The stock has a market capitalization of $7.40 billion, a P/E ratio of 5.54, a P/E/G ratio of 0.10 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the firm posted ($1.03) earnings per share. The company’s revenue for the quarter was up 56.2% compared to the same quarter last year. As a group, analysts forecast that PBF Energy Inc. will post 12.56 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 14th. PBF Energy’s payout ratio is 9.73%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. State Street Corp boosted its stake in PBF Energy by 1.3% during the 4th quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after purchasing an additional 60,294 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after purchasing an additional 1,651,516 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.