Insider Selling: PBF Energy (NYSE:PBF) CEO Sells $16,216,018.16 in Stock

Key Points

• PBF Energy CEO Matthew Lucey sold 225,473 shares at an average price of $71.92, generating approximately $16.2 million and reducing his direct stake by 31.26%.
• PBF shares traded at $65.81 after the sale, despite the company reporting quarterly EPS of $6.22, well above the $4.15 consensus estimate, and revenue growth of 56.2% year over year.
• The company declared a quarterly dividend of $0.275 per share, or $1.10 annualized, while analyst sentiment remained mixed with a consensus “Reduce” rating and a $50.15 price target.

PBF Energy Inc. (NYSE:PBF - Get Free Report) CEO Matthew Lucey sold 225,473 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the sale, the chief executive officer directly owned 495,771 shares of the company's stock, valued at approximately $35,655,850.32. This trade represents a 31.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

PBF Energy Price Performance

NYSE:PBF traded down $2.10 during mid-day trading on Tuesday, reaching $65.81. The stock had a trading volume of 4,170,256 shares, compared to its average volume of 3,389,574. PBF Energy Inc. has a 12 month low of $21.46 and a 12 month high of $74.74. The stock has a market capitalization of $7.79 billion, a PE ratio of 5.82, a P/E/G 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. The stock has a 50-day simple moving average of $49.75 and a two-hundred day simple moving average of $43.23.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share 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 the consensus estimate of $9.61 billion. During the same quarter last year, the business posted ($1.03) EPS. The company's revenue was up 56.2% compared to the same quarter last year. On average, equities analysts anticipate that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. PBF Energy's dividend payout ratio is currently 9.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PBF. Goldman Sachs Group Inc. increased its position in PBF Energy by 127.9% during the 4th 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. Hsbc Holdings PLC lifted its position in shares of PBF Energy by 81.7% in the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company's stock worth $1,840,000 after purchasing an additional 30,430 shares during the period. Brandywine Global Investment Management LLC boosted its stake in shares of PBF Energy by 351.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company's stock valued at $7,200,000 after purchasing an additional 206,666 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of PBF Energy during the fourth quarter worth $1,485,000. Finally, Jefferies Financial Group Inc. increased its position in shares of PBF Energy by 7,210.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company's stock worth $17,037,000 after buying an additional 619,622 shares during the period. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PBF. UBS Group boosted their target price on PBF Energy from $62.00 to $84.00 and gave the stock a "buy" rating in a research note on Tuesday. Zacks Research upgraded shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PBF Energy in a report on Monday, May 11th. Scotiabank increased their price objective on shares of 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, The Goldman Sachs Group increased 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the company 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.

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