Insider Selling: PBF Energy (NYSE:PBF) Insider Sells 280,000 Shares of Stock

Key Points

• Control Empresarial De Capital sold 280,000 shares of PBF Energy on June 30 at an average price of $46.65, totaling about $13.1 million. The insider’s ownership fell by 1.63% after the transaction.
• The sale adds to a recent pattern of heavy insider selling, with multiple large transactions in late June and throughout May and April. Several of these trades were also made at prices in the low-to-mid $40s per share.
• PBF Energy’s stock was trading near $47.98, close to its 1-year high of $52.18, while analysts remain cautious overall with a consensus rating of Reduce and an average target price of $36.69.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 280,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $46.65, for a total value of $13,062,000.00. Following the transaction, the insider owned 16,862,128 shares of the company's stock, valued at approximately $786,618,271.20. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, June 29th, Control Empresarial De Capital sold 570,000 shares of PBF Energy stock. The stock was sold at an average price of $46.36, for a total value of $26,425,200.00.
• 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 shares were 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 stock was 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 transaction 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 transaction 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 Price Performance

NYSE PBF traded up $2.46 during trading hours on Wednesday, reaching $47.98. The company's stock had a trading volume of 2,940,082 shares, compared to its average volume of 3,413,234. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.15 and a beta of 0.12. The company's 50-day moving average is $41.23 and its two-hundred day moving average is $38.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. PBF Energy Inc. has a 1-year low of $21.24 and a 1-year high of $52.18.

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

PBF Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PBF shares. Zacks Research lowered PBF Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Wall Street Zen lowered PBF Energy from a "buy" rating to a "hold" rating in a report on Sunday. The Goldman Sachs Group initiated coverage on shares of PBF Energy in a research note on Friday, April 10th. They set a "neutral" rating and a $49.00 target price on the stock. Morgan Stanley upped their target price on shares of PBF Energy from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Friday, June 12th. Finally, Scotiabank raised their price target on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $36.69.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBF. Torren Management LLC acquired a new stake in shares of PBF Energy in the 4th quarter worth $30,000. Los Angeles Capital Management LLC acquired a new stake in PBF Energy during the fourth quarter worth about $31,000. Leonteq Securities AG purchased a new position in PBF Energy during the first quarter worth about $33,000. Smartleaf Asset Management LLC raised its stake in PBF Energy by 65.3% during 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 period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in PBF Energy in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 96.29% of the company's stock.

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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