Insider Selling: PBF Energy (NYSE:PBF) Insider Sells $26,425,200.00 in Stock

Key Points

• PBF Energy insider Control Empresarial De Capital sold 570,000 shares on June 29 for about $26.4 million at an average price of $46.36, trimming its position by 3.22%.
• The insider has been actively selling shares throughout late April and June, with multiple additional transactions disclosed totaling tens of millions of dollars more.
• PBF Energy stock was up 5.4% to $47.98, but analyst sentiment remains cautious overall, with MarketBeat showing an average rating of "Reduce" and a consensus price target of $36.69.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the sale, the insider directly owned 17,142,128 shares of the company's stock, valued at approximately $794,709,054.08. The trade was a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 Friday, June 26th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was 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 transaction of $8,635,995.70.
• On Friday, June 5th, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The shares were sold at an average price of $43.17, for a total transaction of $4,317,000.00.
• On Wednesday, June 3rd, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The shares were sold at an average price of $43.58, for a total transaction of $9,587,600.00.
• On Tuesday, June 2nd, Control Empresarial De Capital sold 31,000 shares of PBF Energy stock. The shares were sold at an average price of $43.56, for a total transaction of $1,350,360.00.
• On Monday, May 4th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The stock was sold at an average price of $44.87, for a total value of $8,974,000.00.
• On Tuesday, May 5th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $45.91, for a total value of $10,100,200.00.
• On Thursday, April 30th, Control Empresarial De Capital sold 3,000 shares of PBF Energy stock. The shares were sold at an average price of $44.41, for a total value of $133,230.00.
• On Wednesday, April 29th, Control Empresarial De Capital sold 362,000 shares of PBF Energy stock. The shares were sold at an average price of $43.50, for a total value of $15,747,000.00.

PBF Energy Trading Up 5.4%

NYSE PBF traded up $2.46 during trading hours on Wednesday, hitting $47.98. 2,940,082 shares of the company's stock were exchanged, compared to its average volume of 3,413,234. The stock has a 50-day simple moving average of $41.23 and a 200 day simple moving average of $38.02. PBF Energy Inc. has a 1-year low of $21.24 and a 1-year high of $52.18. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.15 and a beta of 0.12. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the prior year, the company earned ($3.53) earnings per share. The firm's revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that PBF Energy Inc. will post 7.69 EPS for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy's dividend payout ratio is presently 29.65%.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently bought and sold shares of PBF. Royal Bank of Canada increased its position in shares of PBF Energy by 63.6% during the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company's stock valued at $590,000 after purchasing an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company's stock worth $1,140,000 after buying an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock worth $4,996,000 after buying an additional 12,289 shares during the last quarter. Acadian Asset Management LLC grew its position in PBF Energy by 261.0% during the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock valued at $62,000 after buying an additional 2,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in PBF Energy during the second quarter valued at about $1,143,000. 96.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PBF shares. Weiss Ratings restated a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. TD Cowen upgraded shares of PBF Energy from a "sell" rating to a "hold" rating and lifted their price objective for the company from $36.00 to $39.00 in a report on Monday. Scotiabank boosted their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Zacks Research lowered shares of PBF Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group assumed coverage on shares of PBF Energy in a research report on Friday, April 10th. They issued a "neutral" rating and a $49.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $36.69.

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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