PBF Energy (NYSE:PBF) Insider Sells $7,702,000.00 in Stock

Key Points

• PBF Energy insider Control Empresarial De Capital sold 100,000 shares at an average price of $77.02, generating $7.7 million. The sale reduced its direct ownership by 0.70% to 14.19 million shares.
• The insider has conducted multiple additional sales since July, including transactions totaling millions of dollars, while PBF shares have climbed near their 52-week high of $77.94.
• PBF reported strong quarterly results, with EPS of $6.22 versus the $4.15 consensus and revenue up 56.2% year over year to $11.68 billion. The company also maintains a quarterly dividend of $0.275 per share, or $1.10 annually.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $77.02, for a total value of $7,702,000.00. Following the sale, the insider directly owned 14,185,397 shares of the company's stock, valued at $1,092,559,276.94. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, August 17th, Control Empresarial De Capital sold 120,000 shares of PBF Energy stock. The stock was sold at an average price of $74.79, for a total transaction of $8,974,800.00.
• On Friday, August 14th, Control Empresarial De Capital sold 6,356 shares of PBF Energy stock. The shares were sold at an average price of $74.28, for a total transaction of $472,123.68.
• On Thursday, August 13th, Control Empresarial De Capital sold 210,000 shares of PBF Energy stock. The stock was sold at an average price of $72.18, for a total transaction of $15,157,800.00.
• On Wednesday, August 12th, Control Empresarial De Capital sold 150,000 shares of PBF Energy stock. The stock was sold at an average price of $70.13, for a total transaction of $10,519,500.00.
• On Tuesday, August 11th, Control Empresarial De Capital sold 220,375 shares of PBF Energy stock. The shares were sold at an average price of $68.68, for a total transaction of $15,135,355.00.
• On Thursday, July 30th, Control Empresarial De Capital sold 490,000 shares of PBF Energy stock. The stock was sold at an average price of $71.26, for a total transaction of $34,917,400.00.
• 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 value of $14,071,200.00.
• On Friday, July 10th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The shares were sold at an average price of $54.52, for a total value 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 value of $14,358,600.00.
• On Wednesday, July 8th, Control Empresarial De Capital sold 380,000 shares of PBF Energy stock. The stock was sold at an average price of $52.29, for a total transaction of $19,870,200.00.

PBF Energy Stock Performance

Shares of PBF stock traded down $0.76 during trading hours on Friday, hitting $74.57. 1,856,144 shares of the company were exchanged, compared to its average volume of 3,302,446. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $63.36 and a 200 day simple moving average of $49.22. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $77.94. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 6.60, a P/E/G ratio of 0.09 and a beta of 0.09.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $9.61 billion. During the same quarter in the prior year, the firm earned ($1.03) EPS. The business's revenue for the quarter was up 56.2% compared to the same quarter last year. Research analysts predict that PBF Energy Inc. will post 15.74 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. PBF Energy's payout ratio is presently 9.73%.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in PBF Energy in the 4th quarter worth approximately $31,000. Leonteq Securities AG purchased a new stake in shares of PBF Energy during the first quarter valued at approximately $33,000. Smartleaf Asset Management LLC grew its holdings in shares of PBF Energy by 65.3% in the fourth 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. Eurizon Capital SGR S.p.A. bought a new position in shares of PBF Energy in the fourth quarter worth approximately $57,000. Finally, Global Retirement Partners LLC increased its stake in shares of PBF Energy by 3,354.7% in the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company's stock worth $60,000 after buying an additional 2,147 shares during the period. Institutional investors own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore initiated coverage on shares of PBF Energy in a research note on Friday, July 17th. They issued an "in-line" rating and a $58.00 target price on the stock. UBS Group raised their price objective on PBF Energy from $62.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Citigroup upped their target price on PBF Energy from $65.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Freedom Capital cut shares of PBF Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Finally, Zacks Research raised shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.42.

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.

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