Insider Selling: PBF Energy (NYSE:PBF) SVP Sells $1,778,223.48 in Stock

PBF Energy Inc. (NYSE:PBF) SVP James Fedena sold 24,756 shares of PBF Energy stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $71.83, for a total transaction of $1,778,223.48. Following the completion of the transaction, the senior vice president directly owned 114,260 shares of the company’s stock, valued at $8,207,295.80. This trade represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

PBF Energy Trading Up 0.7%

NYSE:PBF opened at $61.68 on Friday. The firm has a market capitalization of $7.30 billion, a P/E ratio of 5.46, a P/E/G ratio of 0.07 and a beta of 0.10. The business has a 50 day simple moving average of $51.60 and a 200 day simple moving average of $44.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. PBF Energy Inc. has a 12-month low of $21.46 and a 12-month high of $74.74.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period last year, the business posted ($1.03) earnings per share. Equities research analysts predict that PBF Energy Inc. will post 15.74 EPS for the current year.

PBF Energy Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings 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 increased its holdings in PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock worth $131,661,000 after buying an additional 60,294 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PBF Energy by 11.6% during the first 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 acquiring an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of 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 during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of 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 valued at $83,639,000 after purchasing an additional 1,651,516 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PBF has been the topic of several research analyst reports. Freedom Capital cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. The Goldman Sachs Group raised 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. Scotiabank increased their price target on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Evercore began coverage on PBF Energy in a research report on Friday, July 17th. They set an “in-line” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $50.15.

PBF Energy Company Profile

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.