James Fedena Sells 77,085 Shares of PBF Energy (NYSE:PBF) Stock

Key Points

• SVP James Fedena sold 77,085 shares of PBF Energy on March 31 at an average price of $49.60 for proceeds of $3,823,416, reducing his holdings by 35.67% to 139,016 shares valued at about $6.90 million.
• PBF reported Q results of $0.49 EPS (beating estimates by $0.64) on $7.14 billion of revenue, but still showed a negative net margin and return on equity, and analysts project about -1.12 EPS for the year.
• The stock traded near $46.33 (12‑month range $13.61–$52.18) with a market cap of ~$5.42 billion, a quarterly dividend of $0.275 (2.4% yield), and a consensus analyst rating of "Reduce" with a $31.69 target price.

PBF Energy Inc. (NYSE:PBF - Get Free Report) SVP James Fedena sold 77,085 shares of PBF Energy stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $49.60, for a total transaction of $3,823,416.00. Following the completion of the sale, the senior vice president owned 139,016 shares of the company's stock, valued at $6,895,193.60. This represents a 35.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PBF Energy Stock Performance

PBF Energy stock traded up $0.24 during midday trading on Thursday, reaching $46.33. 537,319 shares of the company traded hands, compared to its average volume of 3,816,074. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $52.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The business has a 50 day moving average of $39.28 and a two-hundred day moving average of $34.29. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of -31.65, a price-to-earnings-growth ratio of 0.59 and a beta of 0.24.

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

PBF Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of PBF Energy from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 19th. Mizuho boosted their target price on shares of PBF Energy from $38.00 to $45.00 and gave the company a "neutral" rating in a research report on Tuesday, March 17th. Piper Sandler upped their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, February 13th. Tudor Pickering upgraded shares of PBF Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, February 13th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $34.00 price target on shares of PBF Energy in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $31.69.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in PBF Energy by 197.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 589 shares in the last quarter. Torren Management LLC purchased a new position in PBF Energy during the fourth quarter valued at approximately $30,000. Los Angeles Capital Management LLC bought a new position in shares of PBF Energy in the fourth quarter worth approximately $31,000. Deseret Mutual Benefit Administrators increased its stake in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Finally, Hantz Financial Services Inc. increased 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 worth $39,000 after purchasing an additional 912 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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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