Insider Selling: PBF Energy (NYSE:PBF) Insider Sells 637,000 Shares of Stock

Key Points

• Insider selling: Control Empresarial De Capital sold 637,000 shares on March 26 at an average $49.96 ($31.82M) as part of a late‑March selling spree of about 5.24 million shares totaling roughly $252.8M, and still holds 20,338,698 shares valued at about $1.02B.
• PBF stock traded up ~0.9% to $46.52 midday; the company recently beat EPS estimates but reported negative net margin and ROE, pays a 2.4% dividend, and carries a consensus Wall Street rating of "Reduce" with an average target of $31.69.

PBF Energy Inc. (NYSE:PBF - Get Free Report) insider Control Empresarial De Capital sold 637,000 shares of PBF Energy stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $49.96, for a total transaction of $31,824,520.00. Following the sale, the insider directly owned 20,338,698 shares of the company's stock, valued at approximately $1,016,121,352.08. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 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.
• On Monday, March 30th, Control Empresarial De Capital sold 85,000 shares of PBF Energy stock. The stock was sold at an average price of $51.14, for a total value of $4,346,900.00.
• On Wednesday, March 25th, Control Empresarial De Capital sold 469,700 shares of PBF Energy stock. The stock was sold at an average price of $49.44, for a total value of $23,221,968.00.
• On Tuesday, March 24th, Control Empresarial De Capital sold 687,500 shares of PBF Energy stock. The shares were sold at an average price of $49.49, for a total value of $34,024,375.00.
• On Monday, March 23rd, Control Empresarial De Capital sold 472,000 shares of PBF Energy stock. The stock was sold at an average price of $47.02, for a total value of $22,193,440.00.
• On Friday, March 20th, Control Empresarial De Capital sold 340,000 shares of PBF Energy stock. The stock was sold at an average price of $48.84, for a total value of $16,605,600.00.
• On Thursday, March 19th, Control Empresarial De Capital sold 52,000 shares of PBF Energy stock. The stock was sold at an average price of $50.18, for a total value of $2,609,360.00.
• On Wednesday, March 18th, Control Empresarial De Capital sold 1,100,000 shares of PBF Energy stock. The shares were sold at an average price of $46.21, for a total value of $50,831,000.00.
• On Tuesday, March 17th, Control Empresarial De Capital sold 600,000 shares of PBF Energy stock. The shares were sold at an average price of $44.43, for a total transaction of $26,658,000.00.

PBF Energy Stock Up 0.9%

PBF stock traded up $0.43 during midday trading on Thursday, reaching $46.52. 537,319 shares of the company were exchanged, compared to its average volume of 3,816,074. The company has a market cap of $5.44 billion, a price-to-earnings ratio of -31.69, a price-to-earnings-growth ratio of 0.59 and a beta of 0.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $52.18. The stock's 50-day simple moving average is $39.28 and its 200 day simple moving average is $34.29.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The business had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $7.17 billion. During the same quarter in the prior year, the business posted ($2.82) EPS. The company's revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. PBF Energy's dividend payout ratio (DPR) is presently -74.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on PBF Energy from $33.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Piper Sandler boosted their price objective on PBF Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Scotiabank upgraded shares of PBF Energy to a "hold" rating in a research report on Friday, March 27th. Citigroup lifted their target price on shares of PBF Energy from $29.00 to $36.00 and gave the company a "neutral" rating in a report on Wednesday, January 14th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $34.00 price target on shares of PBF Energy in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $31.69.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in PBF Energy during the 3rd quarter worth $10,207,000. First Eagle Investment Management LLC boosted its holdings in shares of PBF Energy by 7.9% in the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company's stock valued at $16,519,000 after acquiring an additional 40,129 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of PBF Energy during the second quarter worth about $5,843,000. Allianz Asset Management GmbH increased its stake in shares of PBF Energy by 1,232.0% during the third quarter. Allianz Asset Management GmbH now owns 267,091 shares of the oil and gas company's stock worth $8,058,000 after acquiring an additional 247,039 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in PBF Energy during the third quarter worth about $823,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

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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