Control Empresarial De Capital Sells 490,000 Shares of PBF Energy (NYSE:PBF) Stock

Key Points

• Control Empresarial De Capital sold 490,000 PBF Energy shares at an average price of $71.26, generating approximately $34.9 million and reducing its stake by 3.16% to 14.99 million shares.
• PBF Energy reported strong quarterly results, with EPS of $6.22 versus the $4.15 consensus and revenue of $11.68 billion, up 56.2% year over year.
• The stock fell 6.3% to $67.74, while analysts maintained a consensus “Hold” rating with an average price target of $46.31; the company also declared a quarterly dividend of $0.275 per share.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 490,000 shares of PBF Energy stock in a transaction dated 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 completion of the sale, the insider owned 14,992,128 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 20th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $63.96, for a total transaction of $14,071,200.00.
• On Friday, July 10th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $54.52, for a total transaction of $5,452,000.00.
• On Thursday, July 9th, Control Empresarial De Capital sold 270,000 shares of PBF Energy stock. The shares were sold at an average price of $53.18, for a total transaction of $14,358,600.00.
• On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The shares were sold at an average price of $52.29, for a total transaction of $19,870,200.00.
• On Monday, July 6th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $49.14, for a total transaction of $9,828,000.00.
• On Wednesday, July 1st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $46.94, for a total transaction of $9,388,000.00.
• On Tuesday, June 30th, Control Empresarial De Capital sold 280,000 shares of PBF Energy stock. The shares were sold at an average price of $46.65, for a total transaction of $13,062,000.00.
• On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00.
• On Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $42.79, for a total transaction of $8,558,000.00.
• On Thursday, June 25th, Control Empresarial De Capital sold 205,570 shares of PBF Energy stock. The stock was sold at an average price of $42.01, for a total value of $8,635,995.70.

PBF Energy Stock Down 6.3%

NYSE PBF traded down $4.54 during midday trading on Monday, hitting $67.74. 4,895,920 shares of the company traded hands, compared to its average volume of 3,384,220. PBF Energy Inc. has a 52 week low of $21.46 and a 52 week high of $74.74. The company's 50-day simple moving average is $49.20 and its 200-day simple moving average is $42.98. The company has a market cap of $8.01 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.12 and a beta of 0.10. 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 (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business's revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.03) EPS. As a group, equities research analysts forecast that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.275 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.6%. PBF Energy's payout ratio is currently 9.73%.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently added to or reduced their stakes in PBF. Torren Management LLC acquired a new position in shares of PBF Energy during the fourth quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new stake in PBF Energy in the 4th quarter worth approximately $31,000. Leonteq Securities AG purchased a new stake in PBF Energy during the 1st quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its position in PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 579 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in PBF Energy during the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PBF shares. Mizuho lifted their price objective on shares of PBF Energy from $48.00 to $57.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Freedom Capital upgraded shares of PBF Energy to a "hold" rating in a research note on Tuesday, July 7th. Scotiabank lifted their price target on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, TD Cowen upped their price target on PBF Energy from $39.00 to $68.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.31.

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.

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