Insider Selling: PBF Energy (NYSE:PBF) Insider Sells 31,000 Shares of Stock

Key Points

• Control Empresarial De Capital sold 31,000 shares of PBF Energy on June 2 at an average price of $43.56, worth about $1.35 million. The insider now owns 18.44 million shares after the transaction.
• This sale came amid a series of recent insider disposals by the same investor, including much larger sales in early June and throughout April and May. The pattern suggests ongoing trimming of the stake rather than a one-off trade.
• PBF Energy shares traded around $42.79, near their 50-day average of $42.47 and below the 52-week high of $52.18. The company recently missed earnings per share estimates but beat revenue expectations, and analysts currently have a consensus rating of "Reduce" with a target price of $36.15.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 31,000 shares of PBF Energy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $43.56, for a total value of $1,350,360.00. Following the completion of the sale, the insider owned 18,437,698 shares of the company's stock, valued at $803,146,124.88. The trade was a 0.17% 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 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 value of $9,587,600.00.
• On Monday, May 4th, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were 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 shares were 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.
• On Tuesday, April 7th, Control Empresarial De Capital sold 70,000 shares of PBF Energy stock. The shares were sold at an average price of $47.10, for a total value of $3,297,000.00.
• On Monday, April 6th, Control Empresarial De Capital sold 130,000 shares of PBF Energy stock. The shares were sold at an average price of $46.18, for a total value of $6,003,400.00.
• On Friday, March 27th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $50.52, for a total value of $30,312,000.00.
• On Thursday, March 26th, Control Empresarial De Capital sold 637,000 shares of PBF Energy stock. The shares were sold at an average price of $49.96, for a total value of $31,824,520.00.
• On Tuesday, March 31st, Control Empresarial De Capital sold 200,000 shares of PBF Energy stock. The shares were sold at an average price of $50.74, for a total value of $10,148,000.00.

PBF Energy Price Performance

Shares of NYSE PBF traded up $0.24 during midday trading on Thursday, hitting $42.79. The stock had a trading volume of 1,608,177 shares, compared to its average volume of 3,528,245. The company has a market capitalization of $5.06 billion, a PE ratio of 11.53, a P/E/G ratio of 0.16 and a beta of 0.12. The stock has a 50 day simple moving average of $42.47 and a 200-day simple moving average of $37.18. PBF Energy Inc. has a 1 year low of $17.53 and a 1 year high of $52.18. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $7.32 billion. During the same quarter in the previous year, the business posted ($3.53) EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that PBF Energy Inc. will post 6.7 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.6%. PBF Energy's dividend payout ratio (DPR) is presently 29.65%.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors have recently modified their holdings of PBF. Smartleaf Asset Management LLC grew its stake in shares of PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock valued at $27,000 after buying an additional 589 shares in the last quarter. Torren Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at $31,000. Leonteq Securities AG acquired a new stake in shares of PBF Energy in the first quarter valued at $33,000. Finally, Hantz Financial Services Inc. grew its stake in shares of PBF Energy by 235.7% in the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company's stock valued at $39,000 after buying an additional 912 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PBF has been the topic of a number of analyst reports. Tudor Pickering upgraded PBF Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, February 13th. Mizuho raised their target price on PBF Energy from $43.00 to $48.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Piper Sandler raised their target price on PBF Energy from $41.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Citigroup raised their target price on PBF Energy from $36.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Finally, Morgan Stanley raised their target price on PBF Energy from $27.00 to $34.00 and gave the stock an "underweight" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $36.15.

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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