PBF Energy (NYSE:PBF) Trading Down 8.7% on Insider Selling

PBF Energy Inc. (NYSE:PBF)’s stock price dropped 8.7% during trading on Monday following insider selling activity. The stock traded as low as $71.05 and last traded at $71.4950. Approximately 3,633,401 shares were traded during trading, an increase of 10% from the average daily volume of 3,292,476 shares. The stock had previously closed at $78.30.

Specifically, insider Control Empresarial De Capital sold 315,776 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $77.78, for a total value of $24,561,057.28. Following the completion of the sale, the insider owned 13,866,127 shares in the company, valued at approximately $1,078,507,358.06. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Control Empresarial De Capital sold 3,494 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $77.23, for a total value of $269,841.62. Following the transaction, the insider owned 14,181,903 shares in the company, valued at approximately $1,095,268,368.69. This trade represents a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PBF. Evercore assumed coverage on PBF Energy in a research note on Friday, July 17th. They issued an “in-line” rating and a $58.00 price target for the company. UBS Group increased their target price on shares of PBF Energy from $62.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research report on Friday, August 7th. Finally, TD Cowen raised their price objective on PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.58.

PBF Energy Trading Down 8.2%

The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.52 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 0.08 and a beta of 0.09. The business has a fifty day moving average price of $66.93 and a 200 day moving average price of $51.00.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.PBF Energy’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period last year, the company earned ($1.03) earnings per share. On average, analysts expect that PBF Energy Inc. will post 17.89 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s payout ratio is currently 9.73%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new stake in PBF Energy in the 1st quarter valued at $33,000. Los Angeles Capital Management LLC acquired a new position in shares of PBF Energy during the 4th quarter worth about $31,000. IFP Advisors Inc grew its holdings in shares of PBF Energy by 68.7% in the 2nd quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 591 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of 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 valued at $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of PBF Energy in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.