PBF Energy (NYSE:PBF) Insider Sells $3,297,000.00 in Stock

PBF Energy Inc. (NYSE:PBF) insider Control Empresarial De Capital sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $47.10, for a total transaction of $3,297,000.00. Following the completion of the sale, the insider owned 19,253,698 shares of the company’s stock, valued at $906,849,175.80. The trade was a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, April 6th, Control Empresarial De Capital sold 130,000 shares of PBF Energy stock. The stock was sold at an average price of $46.18, for a total transaction of $6,003,400.00.
• On Friday, March 27th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The stock was sold at an average price of $50.52, for a total transaction of $30,312,000.00.
• On Thursday, March 26th, Control Empresarial De Capital sold 637,000 shares of PBF Energy stock. The stock was sold at an average price of $49.96, for a total transaction of $31,824,520.00.
• On Tuesday, March 31st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $50.74, for a total transaction of $10,148,000.00.
• On Monday, March 30th, Control Empresarial De Capital sold 85,000 shares of PBF Energy stock. The stock was sold at an average price of $51.14, for a total transaction of $4,346,900.00.
• On Wednesday, March 25th, Control Empresarial De Capital sold 469,700 shares of PBF Energy stock. The stock was sold at an average price of $49.44, for a total transaction of $23,221,968.00.
• On Tuesday, March 24th, Control Empresarial De Capital sold 687,500 shares of PBF Energy stock. The stock was sold at an average price of $49.49, for a total transaction of $34,024,375.00.
• On Monday, March 23rd, Control Empresarial De Capital sold 472,000 shares of PBF Energy stock. The stock was sold at an average price of $47.02, for a total transaction of $22,193,440.00.
• On Friday, March 20th, Control Empresarial De Capital sold 340,000 shares of PBF Energy stock. The stock was sold at an average price of $48.84, for a total transaction of $16,605,600.00.
• On Thursday, March 19th, Control Empresarial De Capital sold 52,000 shares of PBF Energy stock. The stock was sold at an average price of $50.18, for a total transaction of $2,609,360.00.

PBF Energy Trading Down 7.1%

Shares of PBF traded down $3.28 on Wednesday, reaching $42.90. 4,972,243 shares of the company’s stock were exchanged, compared to its average volume of 3,830,089. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.02 billion, a P/E ratio of -29.18, a price-to-earnings-growth ratio of 0.56 and a beta of 0.25. The business has a 50 day moving average price of $40.31 and a two-hundred day moving average price of $34.77. PBF Energy Inc. has a 12 month low of $13.82 and a 12 month high of $52.18.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. PBF Energy’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.82) earnings per share. Research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s payout ratio is -74.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PBF. Goldman Sachs Group Inc. grew its holdings in 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 valued at $171,595,000 after purchasing an additional 3,550,820 shares during the period. Invesco Ltd. lifted its stake in PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after buying an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC lifted its stake in PBF Energy by 230.7% in the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after buying an additional 1,454,500 shares in the last quarter. Norges Bank bought a new position in PBF Energy in the fourth quarter valued at approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after buying an additional 1,159,628 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Scotiabank upgraded shares of PBF Energy to a “hold” rating in a report on Friday, March 27th. Weiss Ratings restated a “sell (d)” rating on shares of PBF Energy in a report on Monday, December 29th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. The Goldman Sachs Group boosted their price objective on shares of PBF Energy from $33.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, Piper Sandler boosted their price objective on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $32.92.

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.