Insider Selling: PBF Energy (NYSE:PBF) SVP Sells 30,000 Shares of Stock

Key Points

• PBF Energy's SVP Connor Thomas O sold 30,000 shares at an average price of $34.00, resulting in a total value of $1,020,000, and decreasing his ownership by 12.61%.
• The company reported a quarterly EPS of ($1.03), surpassing analyst estimates of ($1.19), with revenue of $7.48 billion, a decline of 14.4% year-over-year.
• PBF Energy's recent dividend of $0.275 per share provides a yield of 3.6%, while reports indicate a consensus target price of $26.38 for the stock.

PBF Energy Inc. (NYSE:PBF - Get Free Report) SVP Connor Thomas O sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the senior vice president owned 207,984 shares of the company's stock, valued at $7,071,456. This trade represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

PBF Energy Stock Performance

Shares of NYSE PBF traded down $1.74 during trading on Monday, reaching $30.88. The stock had a trading volume of 4,724,281 shares, compared to its average volume of 3,284,074. The stock has a market cap of $3.57 billion, a PE ratio of -3.59 and a beta of 0.97. The firm's 50 day moving average price is $26.18 and its two-hundred day moving average price is $22.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy Inc. has a one year low of $13.61 and a one year high of $34.29.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The firm's revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.54) EPS. On average, research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio is presently -12.81%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on PBF Energy from $22.00 to $29.00 and gave the stock an "underweight" rating in a research note on Thursday, September 11th. Mizuho upped their price objective on PBF Energy from $23.00 to $26.00 and gave the stock an "underperform" rating in a research note on Monday, September 15th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 price objective for the company. in a research note on Monday, September 15th. Citigroup increased their price target on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $26.38.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Corient Private Wealth LLC increased its holdings in shares of PBF Energy by 14.0% during the second quarter. Corient Private Wealth LLC now owns 12,040 shares of the oil and gas company's stock valued at $261,000 after purchasing an additional 1,480 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of PBF Energy by 231.4% in the second quarter. Osaic Holdings Inc. now owns 6,399 shares of the oil and gas company's stock valued at $137,000 after buying an additional 4,468 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of PBF Energy in the second quarter valued at $5,843,000. Kestra Investment Management LLC lifted its holdings in shares of PBF Energy by 427.4% in the second quarter. Kestra Investment Management LLC now owns 4,599 shares of the oil and gas company's stock valued at $100,000 after buying an additional 3,727 shares during the period. Finally, Caxton Associates LLP lifted its holdings in shares of PBF Energy by 308.5% in the second quarter. Caxton Associates LLP now owns 282,434 shares of the oil and gas company's stock valued at $6,120,000 after buying an additional 213,290 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.

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